RADIOMEDIX AWARDED $2.0 M NCI SBIR DIRECT-TO-PHASE II GRANT TO DEVELOP DRUG FOR TARGETED ALPHA-EMITTER THERAPY

Houston, TX, Nov. 18, 2021 (GLOBE NEWSWIRE) — RadioMedix, a clinical-stage biotechnology company developing radiotheranostic drugs, announced that it has been awarded a $2.0M Direct to Phase II Small Business Innovation Research (SBIR) grant from the National Cancer Institute at the US National Institutes of Health. The grant supports Phase I/II clinical development of innovative alpha-emitter labeled peptide, AlphaMedixTM,  for therapy of somatostatin receptor-positive neuroendocrine tumors. RadioMedix successfully completed Phase I and Phase II NCI SBIR Contracts focused on the dose-escalation and safety studies of AlphaMedix in PRRT-naïve neuroendocrine patients. The Phase II SBIR funding will be used to evaluate the additional safety and efficacy of this investigational drug and expanded clinical indications of AlphaMedix™. These clinical studies are done in collaboration with our business partner, Orano Med. “We witness the groundbreaking advances in nuclear medicine and targeted radiotherapy. RadioMedix is part of this movement and we have a strong commitment to introduce a new pipeline of alpha-emitter labeled drugs to the clinic”, said RadioMedix CSO, Izabela Tworowska, Ph.D. and Principal Investigator of the grant.  “We would like to thank NCI SBIR for selection of this project for funding and continuation of their support of the targeted alpha-emitter therapy”, added Dr. Tworowska. “The NCI SBIR funding will have a significant impact on the acceleration of the clinical studies of AlphaMedix and commercialization of this investigational drug”, said Ebrahim S Delpassand, MD, CEO of RadioMedix.  “We are seeking additional funding from investors and venture capital firms to accelerate clinical development of our platform of alpha-emitter labeled drugs. We firmly believe that targeted alpha-emitter therapy will be a game-changer in responding to numerous unmet needs in oncology”, added Dr. Delpassand. ABOUT  RADIOMEDIX RadioMedix, Inc. is a clinical-stage biotechnology company, based in Houston and Humble, Texas, focused on innovative targeted radiopharmaceuticals for diagnosis, monitoring, and therapy of cancer. The company is developing radiopharmaceuticals for PET imaging and therapy (alpha- and beta-labeled agents). RadioMedix established contract service facilities for academic and industrial partners including Drug discovery center for the early probe development, a Pre-clinical core facility for in vitro and in vivo evaluation of radiopharmaceuticals,  cGMP and analytical suite for Phase I-III clinical trials, and the large scale post-approval commercial manufacturing facility, the  Spica Center. To learn more, visit www.radiomedix.com. ABOUT NCI SBIR The SBIR/STTR program is one of the nation’s largest sources of financing for technology innovation. The National Cancer Institute’s SBIR Development Center provides funding, mentoring, and networking assistance to small businesses developing innovative cancer technologies. To learn more, visit https://sbir.cancer.gov. Research reported in this press release will be supported by the National Cancer Institute of the National Institutes of Health under Award Number R44CA265421. The content is solely the responsibility of RadioMedix and does not necessarily represent the official views of the National Institutes of Health. CONTACT: Izabela Tworowska, Ph.D.
Chief Scientific Officer
RADIOMEDIX, Inc.
9701 Richmond Ave., suite 222
Houston, TX 77042
[email protected]