GE Healthcare (NYSE:GE) said today that it entered into a global commercial partnership with Theragnostics for its prostate-specific membrane antigen PET/CT imaging agent.
The agreement stipulates that Theragnostics is to lead the development of the GalliProst diagnostic tracer, while GE Healthcare is slated to lead pre-approval commercial preparations, plus all commercial and distribution activities after approval is received, should that happen.
Braintree, Mass.-based Theragnostics’ PET/CT imaging is designed to allow radiologists to observe tumors, lymph nodes and metastasis in order to decide the proper treatment. The company’s GalliProst tracer is designed to display a “heatmap” style image that shows the location and intensity of PSMA on the surface of prostate cancer cells.
Data from a Phase II clinical study showed that one third of newly diagnosed prostate cancer patients, plus over 50% of patients with biochemically recurrent disease, had their treatment plans modified, thanks to a GalliProst scan.
“This agreement is validation of the potential for our novel prostate cancer Gallium-68 (68Ga) diagnostic tracer, GalliProst which can benefit the treatment of prostate cancer patients around the globe,” Theragnostics CEO Greg Mullen said in prepared remarks. “We are very pleased to sign our second agreement with GE Healthcare following our agreement last year for a diagnostic tracer for imaging kidney function and scarring.”
“We are excited to partner with Theragnostics on GalliProst to give vital insights into prostate cancer,” added GE Healthcare pharmaceutical diagnostics global product leader, molecular imaging oncology Sanka Thiru. “We believe that this partnership enables both parties to leverage each other’s key areas of expertise in order to accelerate the development of GalliProst and ultimately improve patient care.”
GE stock share prices were unchanged at $8.28 each in midday trading today.