RICHLAND, Wash. & CORALVILLE, Iowa, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Perspective Therapeutics, Inc. (“Perspective” or “the Company”) (NYSE AMERICAN: CATX), a precision oncology company developing alpha-particle therapies and complementary diagnostic imaging agents and an innovator in seed brachytherapy treatment options for multiple cancers, today announced a collaborative initiative focused on increasing access to Cesium-131 brachytherapy for the treatment of certain brain cancers in the form of GT Medical Technologies, Inc.’s (“GT MedTech”) GammaTile Therapy.
“We are delighted to announce the expansion of our collaboration with GT MedTech to increase our manufacturing in support of their objective of bringing GammaTile Therapy to more patients with difficult to treat brain cancers,” said Thijs Spoor, Chief Executive Officer of Perspective. “As the sole producer of Cesium-131 brachytherapy seeds, the therapeutic agent in GammaTile, we value our long-term partnership with GT MedTech and will increase seed production to allow them the capacity to address short notice orders with increased confidence.”
GammaTile Therapy is a radiation treatment option implanted during the last five minutes of brain tumor resection surgery. It is composed of bioresorbable collagen tiles embedded with Cesium-131 radiation seeds supplied by Perspective Therapeutics. GammaTile delivers targeted Cesium-131 radiation to help prevent brain tumor cell regrowth in newly diagnosed and recurrent brain tumors, including glioblastomas, metastatic brain tumors, aggressive meningiomas, and other brain tumor types.
Matthew Likens, CEO of GT MedTech, commented, "We are thrilled that Perspective is offering to increase production of Cesium-131 brachytherapy sources for our short notice orders, this will allow us to increase access to GammaTile Therapy, especially in cases where a last-minute opportunity to improve clinical outcomes presents itself. I know our customers will appreciate this increased commitment to patient care.”
Perspective Therapeutics is the world’s only producer of Cesium-131 brachytherapy which powers expanded internal radiation treatment options throughout the body, for prostate cancer as well as difficult to treat lung, brain, gynecological, head and neck, pelvic, and colorectal cancers.
About Perspective Therapeutics, Inc.
Perspective Therapeutics, Inc., is a medical technology and radiopharmaceutical company that is pioneering advanced treatment applications for cancers throughout the body. The Company is the sole producer of Cesium-131 brachytherapy seeds and has a proprietary technology that utilizes the isotope Lead-212 to deliver powerful alpha radiation specifically to cancer cells via specialized targeting peptides. The Company is also developing complementary imaging diagnostics that incorporate the same targeting peptides which provide the opportunity to personalize treatment and optimize patient outcomes. This “theranostic” approach enables the ability to see the specific tumor and then treat it to potentially improve efficacy and minimize toxicity associated with many other types of cancer treatments.
The Company’s melanoma (VMT01) and neuroendocrine tumor (VMT-α-NET) programs are entering Phase 1/2a imaging and therapy trials for the treatment of metastatic melanoma and neuroendocrine tumors at several leading academic institutions. The Company has also developed a proprietary Lead-212 generator to secure key isotopes for clinical trial and commercial operations.
For more information, please visit the Company’s website at www.perspectivetherapeutics.com .
About GT Medical Technologies, Inc.
Driven to raise the standard of care and improve the lives of patients with brain tumors, a team of brain tumor specialists formed GT Medical Technologies. FDA-cleared GammaTile is a Surgically Targeted Radiation Therapy (STaRT) for patients undergoing brain tumor removal surgery of newly diagnosed malignant and recurrent brain tumors. This “one-and-done” treatment eliminates the need for one to six weeks of daily external beam radiation therapy, allowing patients to go about their daily lives without the burden of additional trips to the hospital or clinic for ongoing treatment. Since its full market release in the United States in March 2020, GammaTile has been offered in more than 95 hospitals, with more centers being added each month. For more information, visit www.gtmedtech.com and follow @GammaTile on Twitter and LinkedIn.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Statements in this press release that are not statements of historical fact are forward-looking statements. Words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “estimate,” “believe,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements concerning, among other things, the expectation for the Company to increase access to Cesium-131 brachytherapy for the treatment of certain brain cancers in the form of GT MedTech’s GammaTile Therapy; the expectation for the Company to increase the manufacturing of Cesium-131 brachytherapy seeds; the Company’s plans to increase seed production and allow GT MedTech the capacity to address short notice orders; the Company’s clinical development plans; expectations regarding the potential market opportunities for the Company’s product candidates; the potential functionality, capabilities, and benefits of the Company’s product candidates; the Company’s expectations, beliefs, intentions, and strategies regarding the future; and other statements that are not historical fact.
The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the Company’s actual results to differ materially from the results described in or implied by the forward-looking statements, including, without limitation, interruptions or failures in the manufacture and supply of the Company’s product candidates; the size and growth potential of the markets for the Company’s product candidates, and the Company’s ability to service those markets; the availability or potential availability of alternative products or treatments for conditions targeted by the Company that could affect the availability or commercial potential of its product candidates; whether there is sufficient training and use of the Company’s products and product candidates; the market acceptance and recognition of the Company’s products and product candidates; the Company’s ability to maintain and enforce its intellectual property rights; whether the Company can maintain its therapeutic isotope supply agreement with the Department of Energy; and any changes in applicable laws and regulations. Other factors that may cause the Company’s actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in the Company’s most recent Transition Report on Form 10-KT and the Company’s most recent Quarterly Report on Form 10-Q, each filed with the Securities and Exchange Commission (the “SEC”), in the Company’s other filings with the SEC, and in the Company’s future reports to be filed with the SEC and available at www.sec.gov.
Forward-looking statements contained in this press release are made as of this date, and the Company undertakes no duty to update such information whether as a result of new information, future events or otherwise, except as required under applicable law.
Investor Relations Contact: LifeSci Advisors Chuck Padala E: chuck@lifesciadvisors.com GT Medical Technologies Media Contact: Lori Kagan lkagan@gtmedtech.com
