Progenics Pharmaceuticals, an oncology company developing medicines and imaging analysis technology for targeting and treating cancer, has acquired a Somerset, NJ manufacturing facility for Azedra (iobenguane I 131) for $8 million. Azedra is the first and only FDA-approved radiopharmaceutical indicated for the treatment of pheochromocytoma and paraganglioma, ultra-rare cancers.
 
The Somerset site serves as the launch facility for Azedra and will also provide manufacturing support for the company’s development stage radiopharmaceuticals, including 1095. The production of Azedra uses a proprietary Ultratrace process which concentrates the MIBG targeted radiolytic activity by eliminating non-therapeutic “cold” MIBG molecules.
 
Progenics has also secured the long-term supply of iodine necessary for the production of both Azedra and 1095.
 
“This strategic transaction extends our leadership position in radiopharmaceuticals, establishing the infrastructure and manufacturing capabilities to label multiple types of isotopes, including iodine-131,” said Mark Baker, chief executive officer, Progenics. “With this transaction, we are building the capabilities to ensure the supply of Azedra.”