Bruce Power, a nuclear power company and source of medical radioisotopes, and ITM Isotopen Technologien München (ITM), a specialized radiopharmaceutical company, announced today that ITM´s subsidiary, ITG, and Bruce Power have signed an agreement to explore the production of the medical radioisotope Lutetium-177.
Lutetium-177 is used in Targeted Radionuclide Therapy to treat cancers like neuroendocrine tumours and prostate cancer. Medical-grade Lutetium is used to destroy cancer cells while leaving healthy cells unaffected.
The companies have signed a Memorandum of Understanding to explore the production of Lutetium-177 at the Bruce Power site, which has the ability to meet global supply needs through 2064. The joint effort will explore how Lutetium-177 can be produced at Bruce Power’s CANDU reactors.
“Bruce Power is a world leader in the production of critical radioisotopes used to treat cancer,” said Mike Rencheck, Bruce Power’s President and CEO. “By developing innovative ways to generate these radioisotopes, we help ensure that the medical community has access to a reliable source of medical radioisotopes for Targeted Radionuclide Therapy.”
Development, processing, and global distribution of Lutetium-177 will be managed by ITG. This partnership aims to meet the medical community’s growing demand for Lutetium-177.
“We are looking forward to working with Bruce Power to secure a new global supply source of our medical-grade Lutetium,” said Steffen Schuster, CEO of ITM. “With Bruce Power’s long-term outlook to operate its facility through 2064 and its existing expertise with Cobalt production, we have the opportunity to provide a stable source of Lutetium-177 to cancer patients worldwide.”
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province. Bruce Power is also a significant source of Cobalt-60, a radioisotope used for the sterilization of medical equipment around the world as well as a specialized form of cancer treatment called the Gamma Knife.
Bruce Power is also part of the newly-established Canadian Nuclear Isotope Council (CNIC), which will ensure Canada remains a world leader in the production of life-saving radioisotopes by raising awareness and supporting long-term policies at the domestic and international level. Over 30 leading organizations from Canada and around the world have joined the council, which will develop collective solutions to maintain Canada’s leadership position on the global isotope stage. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.
About ITM
ITM Isotopen Technologien München AG is a privately held group of companies dedicated to the development, production and global supply of innovative diagnostic and therapeutic radionuclides and radiopharmaceuticals. Since its foundation in 2004, ITM and its subsidiaries have established GMP manufacturing and a robust global supply network of novel, first-in-class medical radionuclides and generator platform for a new generation of targeted cancer diagnostics and therapies. Furthermore, ITM is developing a proprietary portfolio and growing pipeline of targeted treatments in various stages of clinical development, which address a range of cancers such as neuroendocrine cancers and bone metastases. 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. For more information about ITM, please visit: www.itm.ag
For further information, please contact:
John Peevers
Bruce Power Communications and Media Relations
519-361-6583 – john.peevers@brucepower.com
ITM Media Contact
WE Communications
Stephanie Kunz, Account Director
+49 89 628175-19 – ITM_AG@we-worldwide.com