Cyclotek (Aust) Pty Ltd, Cyclotek NSW Pty Ltd and PETTECH Solutions Pty Ltd have today announced that they have entered into agreements for the first stage of a project which will enable a new opportunity for NSW PET diagnostics and the broader Australian molecular imaging sector.
As part of Stage 1, PETTECH Solutions will be supporting the creation of a new entity, Cyclotek NSW Pty Ltd (as a wholly owned subsidiary of Cyclotek (Aust) Pty Ltd). The objective of this new entity is to seek to support the existing FDG marketplace while increasing the research and development capability for new PET diagnostic agents and novel isotopes in NSW.
The agreements include the sale of the PETTECH Solutions existing FDG business to Cyclotek NSW and a business venture collaboration agreement between Cyclotek and PETTECH Solutions which allows full use of the cyclotron facilities at Lucas Heights.
Stage 2 of the project is progressing with the involvement of other parties. When completed, this is intended to result in additional support and collaboration for Cyclotek NSW which will further strengthen supply in the existing FDG marketplace and increase the research and development capability for new PET diagnostic agents and other novel isotopes in NSW.
The transaction is subject to the customary closing conditions and conditions precedent including regulatory, licensing and other approvals.
Cyclotek (Aust) Pty Ltd is the largest commercial PET radiopharmaceutical manufacturer in Australia and New Zealand. The Cyclotek group has many years of experience in the production of FDG and investigational medicinal products (IMPs) for both international pharmaceutical companies and investigator sponsored clinical trials.
PETTECH Solutions Pty Ltd is a wholly owned subsidiary of the Australian Nuclear Science and Technology Organisation (ANSTO) and has supported patients and customers in NSW with a reliable supply of FDG for the past seven years.
For more information contact:
Pettech Solutions Cornelia Boonstra +61 2 9717 3706 (e) firstname.lastname@example.org
Cyclotek Greg Santamaria +61 3 9467 4966 (e) email@example.com