Garching, Germany, March 7, 2016 / B3C newswire / -- ITM Isotopen Technologien München AG (ITM), a specialized radiopharmaceutical company, today announced that it has raised 20 million EUR in equity from Medtech Focused Family Office.
ITM plans to use the funds for further development of its promising, proprietary pipeline of Targeted Radionuclide Therapies and to bring its innovative therapeutic and diagnostic products faster to the market. The investment will also ensure the continuing growth of the company.
"We are very pleased to have completed this fundraising which will help us to give our radiopharmaceutical products in clinical development a major boost", said Steffen Schuster, Chief Executive Officer of ITM Group. "We thank our new investor for its confidence in ITM´s groundbreaking role in setting new global standards in Precision Oncology and in bringing real added value to patients."
ITM Isotope Technologies Munich AG is a privately held group of companies dedicated to the development, production and global supply of innovative diagnostic and therapeutic radiopharmaceuticals and radionuclides. Since its foundation in 2004, ITM and its subsidiaries have established the GMP manufacturing and a robust global supply network of a novel, first-in-class medical radionuclide and -generator platform for a new generation of targeted cancer diagnostics and therapies. Furthermore, ITM has developed a proprietary portfolio and growing pipeline of targeting molecules and therapies in various stages of clinical development addressing a range of cancers such as neuroendocrine-, prostate- and skin cancers as well as bonemetastases. ITM's main objectives, together with its scientific, medical and industrial collaboration partners worldwide, are to significantly improve outcomes and quality-of-life for cancer patients while at the same time reducing side-effects and improving health economics through a new generation of Targeted Radionuclide Therapies in Precision Oncology.