Advanced Accelerator Applications Signs Exclusive License Agreement with Cancer Targeted Technology to Develop CTT1057, an F-18 Labeled PSMA Ligand for Diagnostic Applications in Prostate Cancer

AAA today announced that it has entered into an exclusive worldwide license agreement with Cancer Targeted Technology, LLC (CTT) to develop and market an investigational new drug product, F-18-labeled CTT1057. CTT1057 is a ligand of Prostate-Specific Membrane Antigen (PSMA) for Positron Emission Tomography (PET) imaging of prostate cancer.

CTT has developed a phosphoramidate-based peptide, which specifically binds to PSMA. A Phase I study in 20 patients was conducted at the University of California, San Francisco. AAA will work to further develop and commercialize this diagnostic agent for prostate cancer. The terms of the agreement include an upfront licensing fee, as well as certain milestone and royalty payments.