Jubilant Radiopharma and SOFIE Biosciences Ink Strategic Collaboration Agreement to Further Advance the Field of Molecular Imaging & Therapeutics
SOFIE Biosciences, Inc. | November 05, 2020
SOFIE Biosciences, Inc. ("SOFIE"), an established radiopharmaceutical supplier and worldwide radiopharmaceutical contract manufacturing organization, and Jubilant Radiopharma, a business division of Jubilant Pharma Limited, announced that both the organizations have entered into a strategic partnership. Under the terms of the partnership, Jubilant Pharma, via one of its wholly owned subsidiaries, with 25% of equity holding shall be a strategic partner to SOFIE, enabling SOFIE to continue to grow production capacity, advance its theranostic pipeline, and support novel PET diagnostic manufacturing and distribution within the U.S.
"SOFIE is a beacon of innovation, and with Jubilant's deep experience, uncompromised quality and customer-centric operations, we will bring game-changing theranostic solutions to nuclear medicine," stated Sergio Calvo, President of Jubilant's Radiopharmaceuticals Division.
"With this new relationship, SOFIE achieves another milestone in our innovation strategy," Philipp Czernin, SOFIE's Chief Revenue Officer, remarked. "By engaging a well-established industry partner such as Jubilant Radiopharma, SOFIE will leverage the combined market presence and astute organizational structure to deliver breakthrough compounds to the nuclear medicine community. With respective distribution capabilities and the highly complementary product portfolio of SPECT and PET radiopharmaceuticals, both companies are well poised to create a single-vendor opportunity in select geographies."
As part of the agreement, Jubilant Radiopharma will invest US $25m into SOFIE Biosciences. This funding will help accelerate the readiness timelines for SOFIE's state-of-the-art Theranostics Center of Excellence Manufacturing Facility in Totowa, New Jersey, as well as advance the development of their Fibroblast Activation Protein Inhibitor (FAPI) program. Patrick Phelps, SOFIE's President and Chief Executive Officer stated, "Under this strategic partnership, SOFIE is excited to meet the growing need to manufacture highly specialized radiopharmaceuticals, as well as become the first theranostic production center for FAPI in the US. FAPI has received worldwide acclaim for its value as a key next-generation theranostic agent with the ability to greatly enhance the detection and treatment of a wide variety of oncology diseases, and we believe with Jubilant Radiopharma's investment and support, we can accelerate the development and commercialization of this exciting family of compounds."
"This agreement is yet another demonstration of Jubilant Radiopharma's long term commitment to the global Nuclear Medicine community. Our teams are dedicated to bringing to market the next generation of breakthrough products and industry-leading services to healthcare providers across the globe as part of our mission of improving lives through Nuclear Medicine," stated Pramod Yadav, CEO Jubilant Pharma Limited.
About SOFIE Biosciences, Inc
SOFIE's vision is to improve patient outcomes by developing and delivering molecular diagnostics and therapeutics (Theranostics). With its robust radiopharmaceutical production and distribution network, mature contract manufacturing services, and now, high value Theranostic intellectual property, SOFIE is poised to deliver on the promise of nuclear medicine.