Atreus – which is not to be confused with Internet protocol-based technology maker Atreus Systems – said Wednesday that France’s Advanced Accelerator Applications will be making a multi-stage investment to help the local company with its development of a new type of in-body radiopharmaceutical product that can be used in molecular imaging.
The Ottawa firm’s product line is based on the Annexin V human protein, which binds to phosphatidylserine, a molecule that only shows up on the surface of dead or dying cells.
It therefore allows doctors to study debilitating or fatal medical conditions such as rheumatoid arthritis, Alzheimer’s, Crohn’s disease, or cardiac transplant rejection.
Atreus noted that Annexin, when used with the medical isotope Technetium-99, also has the ability to be used to evaluate the response to treatment for lymphoma and lung cancer.
“This agreement provides for financial support by a premier European partner for the continued development of Atreus’s technology through phase-two clinical studies, which are expected to demonstrate proof of principle of the pharmaceutical for rheumatoid arthritis,” said Atreus CEO Bill Dickie in a statement.
“Both companies will benefit from the fact that AAA will acquire and invest in an exclusive option for EU marketing and distribution of the proprietary technology and will be responsible for conducting pivotal studies and for regulatory approval in the EU.”
AAA chief executive Stefano Buono added that the investment and partnership would help the French firm – a maker of PET radiopharmaceuticals – expand into the North American market.
