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Teryx Pharmaceuticals Completes Acquisition of ARTMS

Friday, April 12, 2024

ARTMS Inc., a significant provider of essential medical isotopes, has finalized its acquisition by Teryx Pharmaceuticals Limited. This strategic acquisition positions Teryx to strengthen its supply chain and manufacturing vertical integration, gaining greater control over the production of vital isotopes such as zirconium-89 (89Zr), gallium-68 (68Ga), technetium-99m (99mTc), and copper-64 (64Cu).

ARTMS has been instrumental in enabling large-scale, cost-effective production of these isotopes and continues to form partnerships with radiopharmaceutical companies, ensuring broad access for patients. Additionally, ARTMS brings immediate value to Teryx with its expertise in producing therapeutic isotopes like actinium-225 (225Ac) and astatine-211 (211At), expected to be commercially significant alpha emitters in the future, supported by its portfolio of advanced cyclotron technologies.

The journey of ARTMS began with a Canadian government-funded project focused on technetium-99m solid targets and evolved to include PET products. It was established in 2017 with support from Quark Venture's Global Health Science Fund and founding institutions including Triumph, BC Cancer, Lawson Health Research Institute, and the Center for Probe Development. Subsequent milestones include a successful Series A financing round in May 2020, attracting investments from entities like Deerfield Management.

Throughout its development, ARTMS has prioritized enhancing cyclotron production capacity, crucial for alternative medical isotope production. This progress is a result of collaborative efforts among ARTMS' team, investors, and founding members, establishing the company as a leader in the industry.

Salomon Partners Securities served as the financial advisor, while Norton Rose Fulbright Canada provided legal counsel for the acquisition by Teryx.

 

Source: businesswire.com

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