Molecular Insight Pharmaceuticals, Inc. has completed the purchase of a commercial-scale radiopharmaceutical manufacturing facility in Denton, TX. The company purchased the facility from NeoRx Manufacturing Group, Inc., a subsidiary of Poniard Pharmaceuticals, for $3 million. The facility provides more than 80,000 sq. ft. of pharmaceutical manufacturing, warehouse, clean room and administrative office space.

“We are extremely pleased to complete this important strategic acquisition as it significantly expands our capability to manufacture our robust portfolio of product candidates efficiently and cost effectively,” said David S. Barlow, chairman and chief executive officer of Molecular Insight. “Initially, we intend to use a portion of this facility to manufacture Azedra, our lead radiotherapeutic candidate for the treatment of neuroendocrine cancer, and we anticipate it being fully operational prior to the potential launch of Zemiva, our lead molecular imaging candidate for the detection of cardiac ischemia. The facility’s location near three airports and metro Dallas should facilitate the timely development and distribution of other pipeline candidates in our portfolio, including Trofex, a molecular imaging for the detection of prostate cancer, and Onalta and Solazed, targeted molecular radiotherapeutics for cancer.”