IONETIX
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IONETIX closes financing led by Tees River and Eli Lilly and Company
IONETIX Corporation, a leading cyclotron technology innovator and isotope manufacturer for diagnostic and therapeutic applications, announced a financing which included Eli Lilly and Company, as well as existing shareholders of the Company led by Tees River Limited.
The financing follows prior Actinium supply and convertible debt agreements with POINT Biopharma, which has since been acquired by Lilly. The financing underscores the robust strategic interest in Ionetix’s differentiated technology and the Company’s continued leadership in isotope manufacturing.
With this financing, the company meaningfully extends its cash runway to fund continued development of its core technology offerings and expansion of the current cyclotron network in support of its strategic growth plans in the late-stage clinical and commercial settings. Capitalizing on the growth derived from new therapeutics programs, Ionetix aims to fill the market need resulting from the capacity-constrained isotope manufacturing landscape.
IONETIX Produces First Batch of Actinium-225
IONETIX, a leading cyclotron technology innovator, isotope producer, and radiopharmaceutical manufacturer, announced the successful production of Actinium-225 (“Ac-225”) at its isotope manufacturing facility located in Lansing, Michigan.
This first-of-kind facility is dedicated exclusively to producing alpha-emitting isotopes, including Ac-225, At-211 and Pb-212, using IONETIX’s proprietary cyclotron accelerator technology. The company completed the installation and commissioning of the first cyclotron at the facility last year. A second cyclotron will be installed and commissioned in early 2025, adding both scalable supply capacity and onsite production redundancy. A second site at another US location is planned for 2026.