Acquisition accelerates Full-Life's transformation into clinical stage radiopharmaceutical company, leveraging its European-focused Radiotechnology and Development Platform
BRUSSELS and WATCHUNG, N.J. and SHANGHAI, Nov. 29, 2022 /PRNewswire/ -- Full-Life Technologies, a fully integrated global radiotherapeutics company, today announced an agreement to acquire New Jersey-based Focus-X Therapeutics, a company developing targeted radiopharmaceuticals to treat cancer based on proprietary peptide engineering technology. The acquisition expands Full-Life's pipeline, including two compounds nearing clinical trials, provides a second innovative peptide focused discovery platform, and leverages its Radio Technology manufacturing and logistics platforms to advance compounds into clinical development.
Under the terms of the acquisition, Focus-X shareholders are eligible to receive from Full-Life an upfront payment, potential development, regulatory and sales-based milestones of up to $245 million and royalties on any commercial sales. The acquisition is expected to close in the first quarter of 2023.
"The Focus-X acquisition perfectly leverages Full-Life's radiotechnology and development platform by adding two development ready compounds, including a lead with initial human data, a robust pipeline and world class peptide discovery capabilities," said Lanny Sun, Co-founder, Chairman and CEO of Full-Life.
Fa Liu, PhD, Focus-X's Co-founder and CEO commented, "Full-Life's integrated platforms will provide the manufacturing technology, logistics and clinical development expertise to accelerate development of our compounds as well as expand our discovery efforts. This world class radiopharmaceutical team has enormous potential to develop radiopharmaceutical therapeutics that impact patients worldwide."
Founded in 2020, Focus-X has developed a proprietary engineering platform to develop peptide radioligands that precisely deliver alpha or beta emitters to breakdown cancer cell DNA. The platform enables high-quality optimization of peptide radioligand vectors for key pharmaceutical attributes such as biodistribution, binding affinity and in vivo stability. Such optimization can present significant challenges to other ligand targeting compounds such as antibodies. The company has focused on both validated targets and new mechanisms.
Focus-X has established a substantial pipeline. The company's two lead compounds in development are a prostate specific membrane antigen (PMSA)-targeted peptide for the treatment of metastatic castration resistant prostate cancer and a neurotensin receptor type 1 (NTSR1)-targeted peptide for the treatment of pancreatic cancer. The PMSA-targeted compound is currently undergoing an investigator-initiated imaging study. Focus-X has six other programs in earlier stages of development.
About Full-Life Technologies
Full-Life Technologies Limited ("Full-Life") is a fully integrated global radiopharmaceutical company with operations in Europe and China. We seek to own the entire value chain for radiopharmaceutical research & development, production & commercialization in order to deliver clinical impact for patients. The company plans to attack core issues affecting radiopharmaceuticals today through innovative research that targets the treatments of tomorrow. We are comprised of a team of fast-moving entrepreneurs and scientists with a demonstrated track record in the life sciences, as well as radioisotope research and clinical development.