Endocyte, Inc. has a new board member; Patrick Machado. The new appointee is a Co-founder and Former Chief Business and Financial Officer of Medivation. According to Mike Sherman, the president and CEO of Endocyte, Machado holds strong leadership capabilities, which will be very instrumental in running the biopharmaceutical company. The new appointment is timely because it comes at a time when the company has just entered into a supply agreement with ITM Isotopen.
The agreement stipulates that ITM will supply Endocyte with medical radioisotope no-carrier-added (n.c.a.) lutetium in support of its phase 3 VISION trial. The project requires well-choreographed infrastructure, which Machado is expected to facilitate.
The building of the infrastructure and capabilities for commercialization of 177Lu-PSMA-617
Proper execution of the phase 3 VISION trial is of the essence and at this point, Sherman says Machado is well positioned. The CEO notes, “He also has a notable track record of building extraordinary value in companies like Endocyte.”
Notably, ITM has been at the forefront in the development of the highly purified form of lutetium-177. On the other hand, Sherman confirms that they have a strategic decision on how they are going to utilize EndolucinBeta thanks to its favorable properties. Promising results from EndolucinBeta have already been observed in patients with prostate cancer according to Steffen Schuster, the CEO of ITM.
ITM has an unbeatable logistics network
The company’s focus is on the development of production and global supply of innovative diagnostic and therapeutic radionuclides. Having been established in 2004, it has established a robust global supply network, which incorporates first-in-class medical radionuclides. Alongside its subsidiaries, it is quickly growing its portfolio as well as a pipeline of targeted treatments.
However, the Technologien München AG has also set out plans of scientific, medical and industrial collaboration with worldwide partners in an effort to improve the quality of life for cancer patients. It is at this point that Machado’s more than 20 years of experience comes in. He played a significant role in the development and commercial launch of XTANDI. He also sits at the boards of other public pharmaceutical companies such as Adverum Biotechnologies, Chimerix, and Scynexis among others.