Bracco Imaging expands its portfolio of personalized diagnostics
Blue Earth Diagnostics, a company of the Bracco Group and recognized leader in the development and marketing of innovative imaging agents for positron emission tomography (PET), has enriched its oncology portfolio by acquiring the license for an exclusive radiopharmaceutical therapeutic technology created by Scintomics GmbH and the Technical University of Munich (TUM).
As Jonathan Allis, D. Phil, Executive President of BED explains, "The innovative theranostic technology, which targets the prostate specific membrane antigen (rhPSMA), is designed to improve the treatment of patients with prostate cancer." As a result of its acquisition of this advanced therapeutic rhPSMA technology, Blue Earth Diagnostics has built up a complete and unmatched portfolio in the field of prostate cancer. Now that it has access to the therapeutic applications of rhPSMA technology, Blue Earth Diagnostics is able to optimize and customize treatment options for prostate-cancer patients in a manner unrivalled by any other company in the industry.
Blue Earth Diagnostics became part of the Bracco Group in 2019 when it was acquired for $450 million in an operation for which Bracco Imaging won the M&A Award, an accolade given in recognition of the best merger-acquisition transaction by a corporation.
Blue Earth Diagnostics is a molecular imaging company based in Oxford, UK. It is a company with a solid and well established reputation that employs around 100 people in the USA and UK. Its expected turnover in the period ending September 2019 amounted to $140 million, most of it generated in the United States.
Blue Earth Diagnostics markets a product based on Fluciclovine 18F, an innovative molecular imaging agent approved in the United States and the European Union for use in positron emission tomography (PET) imaging carried out on patients with suspected prostate cancer recurrence based on elevated prostate specific antigen (PSA) levels. The company’s pipeline includes innovative radiohybrid Prostate Specific Membrane Antigen (rhPSMA) targeted technology which is a clinical-stage, investigational class of theranostic compounds, with potential applications in both the imaging and treatment of prostate cancer.
In the words of Fulvio Renoldi Bracco, CEO of Bracco Imaging, "Blue Earth Diagnostics' existing and pipeline products have significantly enriched Bracco Imaging's portfolio in precision medicine and personalized diagnostics, and expanded our range of nuclear oncology imaging solutions in Urology and other fields."