BWXT Medical and TRIUMF Execute Agreement for Manufacture of High Purity Ac-225 Based Products
13 June 2022 - 8:45PM
Business Wire
BWX Technologies, Inc. (NYSE: BWXT) announced today that
subsidiary BWXT Medical Ltd. and TRIUMF, Canada’s particle
accelerator centre, have executed a licensing and services
agreement that strengthens their existing partnership for the
production of medical isotopes. This agreement will enable BWXT
Medical to manufacture high purity Actinium-225 (Ac-225) based
products for pharmaceutical companies as it continues to build on
its medical isotope production operations on the TRIUMF site.
Ac-225 is an alpha-emitting isotope used in targeted alpha
therapies that combine Ac-225 with specific tumor-seeking targeting
vectors to kill metastatic cancer while leaving healthy cells
unaffected.
Leveraging existing infrastructure, TRIUMF will irradiate
thorium-232 targets for BWXT Medical. From this irradiated thorium,
BWXT Medical will process and produce high purity Ac-225, sometimes
referred to as non-carrier-added Ac-225, for commercial sale,
strengthening BWXT Medical’s position as a leading global
manufacturer and supplier of critical medical isotopes and
radiopharmaceuticals.
BWXT Medical intends to partner with pharmaceutical and
biotechnology companies who intend to develop targeted alpha
therapeutics.
“We are very pleased to announce this significant deal with our
partner TRIUMF, whose capabilities are truly unique in the world,”
said Martyn Coombs, president, BWXT Medical. “There is much
excitement around targeted alpha therapeutics, which may in the
future offer hope to patients where previously no hope remained. We
anticipate being the first company to produce non-Russian sourced
high purity Ac-225 at semi-scale, starting this summer (2022). Our
intention is to partner with a small number of leading
pharmaceutical companies, initially supplying the isotope, and with
line-of-sight to a deeper relationship including contract
development and manufacturing of the finished products.”
“TRIUMF and BWXT have been producing isotopes at TRIUMF since
1978; our first therapeutic isotope produced at the Vancouver
facility was palladium-103 for prostate brachytherapy. This
agreement represents a key and complementary initiative to our
strategy to increase the supply of Ac-225, commonly known as ‘the
rarest drug on earth,’ to researchers and patients around the
world,” said Kathryn Hayashi, CEO of TRIUMF Innovations.
Executive Director and CEO for TRIUMF, Dr. Nigel Smith, added,
“Working together to increase the supply of cancer-fighting
isotopes shows the impact that TRIUMF’s cyclotron infrastructure
and expertise can have on the world.”
Forward Looking Statements
BWXT cautions that this release contains forward-looking
statements, including statements relating to expectations for the
development, production, performance, demand, timing and impact of
Ac-225. These forward-looking statements involve a number of risks
and uncertainties, including, among other things, changes in market
demand, delays in the development and automation of our production,
regulatory approvals and competitive actions. If one or more of
these or other risks materialize, actual results may vary
materially from those expressed. For a more complete discussion of
these and other risk factors, please see BWXT’s annual report on
Form 10-K for the year ended December 31, 2021 and subsequent
quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission. BWXT cautions not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and undertakes no obligation to update or revise
any forward-looking statement, except to the extent required by
applicable law.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong,
Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a
Fortune 1000 and Defense News Top 100 manufacturing and engineering
innovator that provides safe and effective nuclear solutions for
global security, clean energy, environmental remediation, nuclear
medicine and space exploration. With approximately 6,700 employees,
BWXT has 14 major operating sites in the U.S., Canada and the U.K.
In addition, BWXT joint ventures provide management and operations
at more than a dozen U.S. Department of Energy and NASA facilities.
Follow us on Twitter at @BWXT and learn more at www.bwxt.com.
About TRIUMF
TRIUMF is Canada's particle accelerator centre. The lab is a hub
for discovery and innovation, inspired by a half-century of
ingenuity in answering some of nature's most challenging questions.
From the hunt for the smallest particles in the universe to the
development of new technologies, TRIUMF is pushing frontiers in
research, while training the next generation of leaders in science,
medicine, and industry. Discover more at www.triumf.ca and connect
on Facebook, Twitter, and Instagram: @TRIUMFLab.
About TRIUMF Innovations
TRIUMF Innovations Inc. is TRIUMF's business interface and
commercialization arm, connecting Canada's particle accelerator
centre to the private sector via industry partnerships, licensing,
and company creation. TRIUMF Innovations provides pathways for
businesses to access the expertise and infrastructure at TRIUMF and
across the TRIUMF network. Learn more at www.triumfinnovations.ca
and connect on Twitter at @TRIUMFInno.
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version on businesswire.com: https://www.businesswire.com/news/home/20220612005053/en/
Media Contacts Natalie Cutler BWXT Medical Ltd. Director,
Communications & Government Relations 519.620.5288
nacutler@bwxt.com
Megan Helmer TRIUMF Innovations Director, Communications
604.240.5223 megan@puzzlewood.ca
Investor Contact Mark Kratz BWX Technologies, Inc. Vice
President, Investor Relations 980.365.4300 investors@bwxt.com
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