ITM AG, a major radiopharmaceutical biotech company in Germany, announced that it has signed a strategic long-term agreement to create a Joint Venture with Chengdu Gaotong Isotope Co. Ltd., the leading provider of radiopharmaceuticals and nuclear services in China and a subsidiary of ITM’s collaboration partner China Isotope and Radiation Corporation (CIRC). The newly formed company plans to start operations in Q4 of 2021 and will be located in Chengdu, China. It will focus its operations on the supply of ITM’s EndolucinBeta® (n.c.a. 177Lu) and Gallium Generators to the rapidly emerging Chinese radiopharmaceutical industry. ITM hereby also increases its footprint in China with a second in-country location after establishing its first subsidiary in Shanghai earlier this year. The Joint Venture will be led by both companies with the goal of scaling up and securing access to ITM’s state-of-the-art medical radioisotopes in China.
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Source: Itm