GT Medical Technologies has announced the acquisition of the radioactive Cesium-131 seed assets and related business infrastructure from Perspective Therapeutics’s subsidiary, Isoray Medical.
GT Medical provides the US Food and Drug Administration (FDA)-approved GammaTile Therapy, which is intended for treating patients with operable brain tumours to eliminate residual tumour cells.
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Seeds form a major component of this therapy, a treatment for patients undergoing brain tumour resection surgeries requiring adjuvant radiation therapy.
GammaTile comprises collagen that is bioresorbable and incorporates Cesium-131 radioactive seeds.
The acquisition would enhance GT Medical’s market strength by ensuring access to and oversight of the production of radioactive seeds.
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It can also extend the company’s customer base to include several facilities specialising in the treatment of patients with lung, head and neck, prostate and gynaecological tumours.
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By GlobalDataGT Medical Technologies CEO Matthew Likens said: “By agreeing to acquire Cesium-131-related assets from Isoray, GT Medical Technologies is poised to enhance the delivery of GammaTile Therapy in the US market, building on our commitment to excellence for both patients and the clinicians who treat them.
“Also, acquiring the legacy Isoray business will allow us to streamline existing operations and deepen our partnership with the radiation oncologist community. We are excited about integrating with Isoray’s Cesium-131 brachytherapy team following the closing of the transaction.”
Creating a vertically integrated company, the acquisition will bring direct responsibility for seed manufacturing and supply chain along with the Cesium-131 Brachytherapy Business of Perspective Therapeutics.
Subject to satisfaction of customary conditions, the transaction is anticipated to be completed in the first quarter of next year.
Perspective Therapeutics CEO Thijs Spoor said: “We think GT Medical Technologies believes in the future of brachytherapy and has been a major innovator and investor in the technology in recent years.
“The transaction is expected to create a dominant force in US and global brachytherapy, focusing on, and investing in improved outcomes for patients with multiple tumours using a single best-in-class isotope.”
