Actinium Pharmaceuticals shares jump nearly 17% after signing a supply agreement with Immedica Pharma AB for Iomab-B, according to a press release by Actinium on Tuesday.
- Immedica has received exclusive rights to Iomab-B in Europe, the Middle East, and North America. Actinium still holds all rights related to Iomab-B in the US and the rest of the world.
- Under the agreement, Actinium will get a $35 million upfront payment. The deal has the possibility to reach up to $452 million in regulatory and commercial milestone payments with royalties.
- Sandesh Seth, Chairman, and CEO of Actinium, stated that Europe and the MENA countries are major commercial markets for Iomab-B, with a huge addressable AML patient population.
Iomab-B is an Antibody Radiation Conjugate comprised of apamistamab, a CD45 targeting antibody, and the radioisotope iodine-131 manufactured for the targeted conditioning to enhance bone marrow transport and other cell and gene therapies. ATNM up +17.20%