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Benzinga
Benzinga
Business
Akanksha Bakshi

BWXT Medical, Bayer Ink Commercial Agreement For Actinium-225 Based Products

BWXT Bayer Bayer AG NYSE Radiation
  • BWX Technologies Inc (NYSE:BWXT) subsidiary BWXT Medical Ltd. has entered a commercial agreement with Bayer AG (OTC:BAYRY) to supply high-purity Actinium-225 (Ac-225).
  • Bayer will purchase high-purity Ac-225 from BWXT Medical at pre-determined prices. The parties expect supply to commence later this year.
  • The above agreement follows the agreement reached by the parties in September 2021.
  • Ac-225 is a highly powerful radioisotope used in targeted alpha therapies (TATs). This emerging field combines Ac-225 with specific tumor-seeking targeting moieties, which deliver alpha radiation directly to tumors.
  • "Targeted radionuclide therapies are developed to improve outcomes for patients with different types of cancers. We will leverage our nuclear medicine strengths to collaborate with Bayer over the long term," commented Martyn Coombs, president of BWXT Medical.
  • Price Action: BWXT shares are trading higher by 0.26% at $53.31 on the last check Monday.
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