SOFIE Biosciences, Inc., a radiopharmaceutical supplier and contract manufacturing organization, and Jubilant Radiopharma, a division of Jubilant Pharma Ltd., have entered into a strategic partnership under which Jubilant Pharma will be a strategic partner to SOFIE, enabling SOFIE to expand production capacity, advance its theranostic pipeline, and support novel PET diagnostic manufacturing and distribution within the U.S.
As part of the agreement, Jubilant Radiopharma will invest $25 million in SOFIE Biosciences, with 25% of equity holding. This funding will help accelerate the readiness timelines for SOFIE's Theranostics Center of Excellence Manufacturing Facility in Totowa, NJ, as well as advance the development of their Fibroblast Activation Protein Inhibitor (FAPI) program.
Patrick Phelps, SOFIE's President and Chief Executive Officer said, "Under this strategic partnership, SOFIE is excited to meet the growing need to manufacture highly specialized radiopharmaceuticals, as well as become the first theranostic production center for FAPI in the U.S. FAPI’s next-generation theranostic agent offers the ability to enhance the detection and treatment of a wide variety of oncology diseases, and we believe with Jubilant Radiopharma's investment and support, we can accelerate the development and commercialization of this exciting family of compounds."
"SOFIE is a beacon of innovation, and with Jubilant's deep experience, uncompromised quality and customer-centric operations, we will bring game-changing theranostic solutions to nuclear medicine," stated Sergio Calvo, President of Jubilant's Radiopharmaceuticals Division.
