OTTAWA, Ontario–(BUSINESS WIRE)–BWX Technologies, Inc. (NYSE: BWXT) today announced that its subsidiary BWXT Medical Ltd. has signed a commercial agreement with Bayer AG (Bayer) to supply high purity actinium-225 (Ac-225).
Today’s announcement follows the agreement the two companies reached in September 2021. Under the terms of the commercial agreement, Bayer will purchase high-purity Ac-225 from BWXT Medical at pre-determined prices . The parties expect procurement to begin later this year.
Ac-225 is a very potent radioisotope used in targeted alpha therapies (TAT). This emerging field combines Ac-225 with tumor-specific targeting fragments, which deliver alpha radiation directly to tumors.
BWXT Medical is a global supplier of medical isotopes and radiopharmaceuticals. Bayer is a global company with core competencies in the fields of life sciences, health and nutrition.
“We are very pleased to enter into this agreement with Bayer, one of the world leaders in the growing field of targeted radionuclide therapies,” said Martyn Coombs, president of BWXT Medical. “Targeted radiation therapies are being developed to improve outcomes for patients with different types of cancers. We will leverage our strengths in nuclear medicine to work with Bayer for the long term. »
BWXT cautions that this release contains forward-looking statements, including statements relating to expectations regarding the development, production, performance, demand, timing and impact of Ac-225. These forward-looking statements involve a number of risks and uncertainties, including, among other things, changes in market demand, delays in the development and automation of our production, regulatory approvals and competitive actions. If one or more of these or other risks materialize, actual results may differ materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXT’s Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except as required. by applicable law.
At BWX Technologies, Inc. (NYSE: BWXT), we are strong, innovation-driven people. Based in Lynchburg, Va., BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental sanitation environment, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 14 major operating sites in the United States, Canada and the United Kingdom. In addition, BWXT joint ventures manage and operate more than a dozen US Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more about www.bwxt.com.