- BWX Technologies Inc BWXT subsidiary BWXT Medical Ltd. and TRIUMF, Canada’s particle accelerator centre, have established a licensing and services agreement.
- The agreement strengthens their existing partnership for the production of medical isotopes. It enables BWXT Medical to manufacture high purity Actinium-225 (Ac-225) based products for pharmaceutical companies as it continues to build on its medical isotope production operations on the TRIUMF site.
- Leveraging existing infrastructure, TRIUMF will irradiate thorium-232 targets for BWXT Medical. BWXT Medical processes and produces high purity Ac-225, sometimes called non-carrier-added Ac-225, for commercial sale, strengthening BWXT Medical’s position as a leading global manufacturer and supplier of critical medical isotopes and radiopharmaceuticals.
- “We anticipate being the first company to produce non-Russian sourced high purity Ac-225 at semi-scale, starting this summer (2022). Our intention is to partner with a small number of leading pharmaceutical companies, initially supplying the isotope, and with line-of-sight to a deeper relationship including contract development and manufacturing of the finished products,” commented Martyn Coombs, president, BWXT Medical.
- Price Action: BWXT shares are trading lower by 1.77% at $52.16 on the last check Monday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.