Radiopharmaceutical corporations DuChemBio said on the 25th that it signed an exclusive license agreement with Cyclotek, Australia's leading PET (positron emission tomography) radiopharmaceutical corporations, and will move to expand globally. DuChemBio is a subsidiary of the pharmaceutical distribution group GeoYoung.
DuChemBio said that through this agreement, its PET radiopharmaceutical for Parkinson's disease diagnosis, "18F-FP-CIT," is set to be manufactured and commercialized in India and Southeast Asia as well as Australia and New Zealand. 18F-FP-CIT is the first and only fluorine-18 (18F)-labeled PET radiopharmaceutical that can quantitatively measure the density of dopamine transporters (DAT) in the striatum of the brain.
Under this agreement, Cyclotek secured exclusive rights across the region for the manufacturing, distribution, and commercialization of 18F-FP-CIT. Cyclotek plans to lead regulatory approval procedures in each country and, in cooperation with local partners, actively pursue authorization applications, the establishment of production facilities, and market launches.
Kim Sang-woo, CEO of DuChemBio, said, "This partnership is "a critical turning point" in expanding the global market for 18F-FP-CIT," adding, "It will serve as the foundation for DuChemBio's overseas exports and the expansion of its contract development and manufacturing organization (CDMO) business for radiopharmaceutical therapeutics."