Ariceum Therapeutics has acquired Theragnostics
Last month (June 2023), a private Berlin-based biotech company Ariceum Therapeutics acquired Theragnostics, a UK-based, private biopharmaceutical company engaged in the development of radio-labelled PARP inhibitors for the diagnosis and treatment of tumours.
Ariceum develops radiopharmaceutical products for the diagnosis and treatment of certain hard-to-treat cancers. Ariceum will acquire 100% of the shares of Theragnostics in exchange for an upfront payment of $2.5 million in cash and milestone payments totalling up to $41.5 million.
Following the acquisition of Theragnostics, Ariceum obtained all assets, including:
- Acquisition of next-generation radiopharmaceutical clinical pipeline to include Auger-based systemic targeted PARP inhibitor radiation therapies;
- Expansion of operations in the US;
- Acquisition of commercial FDA-approved, diagnostic product NEPHROSCANTM in partnership with GE Healthcare and Ga-68 kit technology IP currently licensed to Novartis;
- Theragnostics’ and Ariceum’s leadership teams to join forces creating a specialist team of experts in the field of Radiopharmaceuticals.
Manfred Rüdiger, PhD, Chief Executive Officer of Ariceum Therapeutics, said:
“We are delighted to welcome Theragnostics’ expert radiopharmaceutical team to Ariceum and to integrate its innovative products into our proprietary pipeline through this acquisition. In full alignment with our strategy, Ariceum continues to create value for its shareholders by building and advancing a well-balanced portfolio from early discovery to mid-clinical stage projects up to FDA-approved NEPHROSCANTM which advances our presence in the US.”
Greg Mullen, Former Chief Executive Officer of Theragnostics and Newly Appointed Chief Operating Officer of Ariceum Therapeutics commented:
“The acquisition by Ariceum Therapeutics is an exciting opportunity for Theragnostics and we are delighted to be part of a world-leading and innovative radiopharmaceutical company, ensuring the rapid clinical development of PARP inhibitor Auger therapy.”
Congratulations from Finerva to all Theragnostics team regarding a successful Exit!
About Ariceum Therapeutics
Ariceum Therapeutics is a private, clinical-stage radiopharmaceutical company focused on the diagnosis and precision treatment of certain neuroendocrine and other aggressive, hard-to-treat cancers. The name Ariceum is an anagram of ‘Marie Curie’ whose discovery of radium and polonium has made huge contributions to finding treatments for cancer.
Ariceum’s lead targeted systemic radiopharmaceutical product, 177Lu-satoreotide tetraxetan (“satoreotide”) is an antagonist of the somatostatin type 2 (SST2) receptor which is overexpressed in neuroendocrine tumours (NETs) and some aggressive cancers such as small cell lung cancer (SCLC), all of which have few treatment options and poor prognosis. Satoreotide is being developed as a ‘theranostic’ pair for the combined diagnosis and targeted radionuclide treatment of these tumours.
Ariceum Therapeutics, launched in 2021, acquired all rights to satoreotide from Ipsen. Ipsen remains a shareholder in the Company. Ariceum is headquartered in Berlin, with operations in Germany, Australia and Switzerland and activities currently across Europe, North America and Australia.
Ariceum is led by a highly experienced management team and supported by specialist investors including EQT Life Sciences (formerly LSP), HealthCap, Pureos Bioventures, Andera Partners and Earlybird Venture Capital.