PETNet to share radioisotopes with Merck

June 21, 2000

Radiopharmaceutical developer PETNet, an FDG supplier, has made commitments to open new manufacturing centers and supply radiopharmaceuticals to new customers across the U.S. PETNet two weeks ago announced the signing of a two-way licensing agreement

Radiopharmaceutical developer PETNet, an FDG supplier, has made commitments to open new manufacturing centers and supply radiopharmaceuticals to new customers across the U.S.

PETNet two weeks ago announced the signing of a two-way licensing agreement with Merck for radiopharmaceutical supplies.

Under the agreement, PETNet supplies Merck with radioisotopes, and PETNet obtains rights for new diagnostic radiotracer agents that may be developed by Merck.

Also under the terms of the supply contract, PETNet will open a radiopharmaceutical manufacturing and distribution center near Merck’s research and development division in West Point, PA.

This site will produce and supply certain radiotracers for Merck’s research and development operation.

The facility will also provide radiopharmaceuticals to other PET scanning centers in Philadelphia and surrounding areas.

PET radiotracers have a half-life of less than two hours, so they must be manufactured close to PET scanning centers. PETNet operates 15 sites throughout the U.S. that use cyclotrons to manufacture radiopharmaceuticals.

In an unconnected agreement with U.S. Oncology, PETNet will supply FDG to U.S. Oncology’s one PET imaging site in Dallas. U.S. Oncology is a network of 800 oncologists in 60 cancer centers in 26 states.

The organization plans to open 30 more PET sites within the next two years.

Staff at the M.D. Anderson Cancer Center in Houston said PETNet will help them study PET’s diagnostic capabilities more closely when PETNet opens a radiopharmaceutical manufacturing and distribution center in that city.

In a separate agreement, CTI, a supplier of PET products and a major shareholder in PETNet, will supply the M.D. Anderson Cancer Center with Ecat Exact PET scanners.