Advanced Accelerator Applications announced that it has signed the definitive Stock Purchase Agreement for the acquisition of BioSynthema, Inc . The purchase is subject to the final completion of the transaction, which is expected in mid-June. As part of the transaction, BioSynthema ’s founding shareholders and top management will become significant shareholders of AAA, an implicit commitment to continuity and a demonstration of the common view by both parties on the potential for new product development and value creation.
BioSynthema, located in St. Louis, Missouri, USA, discovers and develops unique pharmaceuticals that are targeted to cell surface receptors over-expressed by various lesions, e.g. neuroendocrine cancers. The technology makes specific tumors highly visible using diagnostic imaging methods, which enables earlier and more accurate diagnosis and personalized therapy.BioSynthema is currently developing compounds that will bring new and effective products to the market for the diagnosis and treatment of Gastro-Entero-Pancreatic NeuroEndocrine Tumors (GEPNETs).
AAA has a state-of-the-art Good Manufacturing Practice (GMP) facility in the BioIndustry Park of Canavese (Ivrea, Italy), which would be an ideal site for the manufacture of Lutathera®. The request to produce Lutathera® as an Investigational Medical Product has already been filed by AAA with the Italian authorities (AIFA), and approval is expected to be obtained in the course of this summer. AAA is also building a second facility that will produce Lutathera® and other Radio Metabolic Drugs in the IRST(Istituto Scientifico Romagnolo per lo Studio e la Cura dei Tumori) of Meldola, Italy. Together with the structure of Ivrea, these laboratories will not only develop new drugs, but will also be able to cover the production needs of the entire European Market after the Lutathera® Marketing Authorization has been granted.
For more details and highlights please refer to the official press releases and press articles posted in the “press room” section.