POINT Biopharma Signs Exclusive License Agreement with CanProbe for the Commercialization of a Neuroendocrine Tumor Treatment

TORONTO, Jan. 12, 2021 (GLOBE NEWSWIRE) -- POINT Biopharma Inc. (POINT), a radiopharmaceutical company dedicated to bringing the many benefits of precision radioligand therapy to cancer patients, today announced that it has signed a licensing and commercialization agreement with CanProbe for exclusive rights to Lutetium – 177 Octreotate (Lu-DOTATATE) for the treatment of neuroendocrine cancer. CanProbe, a joint venture between the University Health Network (UHN) and the Centre for Probe Development and Commercialization (CPDC), developed Lu-DOTATATE as it is being used in 167 neuroendocrine tumor (NET) patients in a 180-patient trial with enrollment completed.

“CanProbe’s NET clinical program has helped many patients in Ontario who previously had no other options for treatment,” says Dr. Joe McCann, Chief Executive Officer of POINT Biopharma. “We are excited to extend access to this treatment by leveraging CanProbe’s intellectual property to seek regulatory approvals, with the goal of helping patients in need around the world.” POINT is currently building a state-of-the-art manufacturing facility in Indianapolis, Indiana, to ensure sufficient production capacity is available for Lu-DOTATATE as well as the other drugs in its pipeline.

“We are looking forward to working with POINT Biopharma on the commercialization of Lu-DOTATATE,” says Dr. Luke Brzozowski, President of CanProbe. “We believe POINT is the ideal partner to make this treatment accessible to patients in Ontario and across the globe.” CanProbe is also developing the related diagnostic agent, Gallium – 68 Octreotate (Ga-DOTATATE), with cyclotron-produced Ga-68 using solid target technology.

About CanProbe

CanProbe (canprobe.ca) is a joint venture between the University Health Network (UHN, uhn.ca) and the Centre for Probe Development and Commercialization (CPDC, imagingprobes.ca) to create a Canadian Centre of Excellence for the development, translation, utilization and commercialization of radiopharmaceuticals. CanProbe provides access to specialized expertise that supports the development of new radiopharmaceuticals, with proven experience translating products to the clinical setting, and world-class, GMP, manufacturing capabilities that operate in accordance with FDA, Health Canada and European regulations.

About POINT Biopharma

POINT Biopharma is a globally focused radiopharmaceutical company building a platform for the clinical development and commercialization of radioligands that fight cancer. POINT is combining a portfolio of best-in-class radiopharmaceutical assets, a seasoned management team, strategic partnerships in radio-isotope supply, manufacturing technology and novel direct to patient targeting to revolutionize theragnostic drug development and radioligand commercialization.

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