SAINT-GENIS-POUILLY, France, May 26, 2016 (GLOBE NEWSWIRE) -- Advanced Accelerator Applications S.A. (“AAA” or “the Company”) (Nasdaq:AAAP), an international specialist in Molecular Nuclear Medicine (“MNM”), announced today that AAA Germany GmbH has signed an asset purchase agreement to operate two new F-18 radiopharmaceutical production sites in South Germany. The transaction will close by June 1, 2016.
The first site, located in Erlangen, will be wholly owned and operated by AAA. The second site, located in Munich, will remain the property of the University Hospital of Munich (Klinikum der Universität München or KUM), with AAA responsible for production and commercialization onsite. The Munich contract includes a long-term F-18 in-house supply agreement with the KUM. Of particular value to AAA are the strong R&D activities of the KUM in radiotherapy with prostate-specific membrane antigen (PSMA) and Lutetium.
“Advanced Accelerator Applications is very active in the European F-18 PET market with production facilities based in France, Germany, Italy, Poland, Portugal and Spain,” noted Stefano Buono, Chief Executive Officer of AAA. “With the addition of these two new productions sites to the one AAA is already operating in Bonn, the Company will now have three production sites in Germany and a total of 15 PET production sites in Europe. This acquisition is in line with our strategy to continue consolidating the European PET market and expand our geographical reach.”
Gérard Ber, Chief Operating Officer of AAA added: “Acquiring these two production sites in Germany will expand AAA’s presence in Germany and enable us to cover a very significant part of the German market. With this transaction AAA will become a market leader in Germany.”
AAA’s key F-18 product is Gluscan®, its branded fluorodeoxyglucose (FDG) PET imaging agent which assists in the diagnosis of serious diseases, primarily in oncology, by assessing glucose metabolism.
About Advanced Accelerator Applications
Advanced Accelerator Applications (AAA) is an innovative radiopharmaceutical company that develops, produces and commercializes Molecular Nuclear Medicine (MNM) products. AAA’s lead therapeutic product candidate, Lutathera, is a novel MNM compound that AAA is currently developing for the treatment of Neuro Endocrine Tumors, a significant unmet medical need. Founded in 2002, AAA has its headquarters in Saint-Genis-Pouilly, France. AAA currently has 18 production and R&D facilities able to manufacture both diagnostics and therapeutic MNM products, and has over 440 employees in 13 countries (France, Italy, UK, Germany, Switzerland, Spain, Poland, Portugal, The Netherlands, Belgium, Israel, U.S. and Canada). In 2015 AAA reported sales of €88.6 million (+26.8% vs. 2014). AAA is listed on the Nasdaq Global Select Market under the ticker “AAAP”. For more information please visit: www.adacap.com
About Molecular Nuclear Medicine (“MNM”)
Molecular Nuclear Medicine is a medical specialty using trace amounts of active substances, called radiopharmaceuticals, to create images of organs and lesions and to treat various diseases, such as cancer. The technique works by injecting targeted radiopharmaceuticals into the patient’s body that accumulate in the organs or lesions and reveal specific biochemical processes. Molecular Nuclear Diagnostics employs a variety of imaging devices and radiopharmaceuticals. PET (Positron Emission Tomography) and SPECT (Single Photon Emission Tomography) are highly sensitive imaging technologies that enable physicians to diagnose different types of cancer, cardiovascular diseases, neurological disorders and other diseases in their early stages.
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Source: Advanced Accelerator Applications