Eckert & Ziegler Signs Agreement for 10 Year Supply of Lutetium-177
Eckert & Ziegler AG signed an agreement with POINT Biopharma Global Inc. or the supply of carrier-free lutetium-177 (n.c.a.177Lu). The agreement has a term of ten years with a total sales volume of more than € 100 million.
The lutetium-177 supply is conditional to successful validation of Eckert & Ziegler-produced lutetium-177 with the intended compounds. POINT’s pipeline has multiple lutetium-177-based clinical candidates including one candidate for the treatment of metastatic castration-resistant prostate cancer. The agreement’s projected sales volume is based on the successful regulatory approval of a lutetium-177-based clinical candidate in the future.
To expand its manufacturing capacities, Eckert & Ziegler plans to invest around € 10 million in its own site in Wilmington, MA. Eckert & Ziegler is thus positioning itself as an important supplier of lutetium-177 in the rapidly growing radioligand therapy market.
The strategically significant agreement is expected to start contributing revenues in 2023 and generate substantial earnings if POINT's clinical candidates receive regulatory approval.
The lutetium-177 supply agreement follows a previously signed actinium-225 supply agreement between Eckert & Ziegler and POINT, announced on April 4, 2023.