AAA completes €41 million fund raising

Advanced Accelerator Applications announces that it has successfully completed a capital increase of €41 million.

This capital increase will help accelerate AAA’s international expansion, including an increased presence in the US and help finance the clinical development of its promising portfolio of innovative Molecular Nuclear Medicine diagnostic and therapeutic products.

Specialist biotech and pharma investment company HBM Healthcare Investments Ltd led the investment with €20 million. Other investors include existing and new shareholders such as a company of the Tamburi Investment Partners Group.

AAA reaches halfway recruitment milestone of cancer patients in Lutathera® Pivotal Phase III trial

Advanced Accelerator Applications has reached the 100-patient (halfway) milestone for the NETTER-1 study, an international Phase III clinical trial evaluating the effect of Lutathera® in patients with inoperable progressive midgut carcinoid tumors. The primary endpoint of the trial is the assessment of Progression-Free Survival, with secondary endpoints including Safety, Objective Response Rate, Time to Tumor Progression, Overall Survival and Quality of Life. Lutathera is the first theragnostic drug in MNM to enter phase III clinical development. Its efficacy can be imaged and evaluated at each of a total of four treatments via a SPECT camera, with no additional cost. Phase II results showed Progression-Free Survival of over 45 months compared to the reported 14.6 months of Novartis’ Sandostatin® LAR. Lutathera is currently used on a named patient basis pre-marketing sales in eight European countries.