Press Releases

May 17, 2018

ITM Isotopen Technologien München AG chosen as a 2018 Red Herring Top 100 Europe Winner

Acknowledgement of ITM’s success in bringing a new promising therapy in Precision Oncology to market and to the patients

ITM Isotopen Technologien München AG (ITM), a specialized radiopharmaceutical company, announced today, that it was honored with the Red Herring Top 100 Europe Award that is recognizing Europe’s leading private companies, celebrating these startups’ innovations and technologies across their respective industries.

Red Herring Award
Red Herring Top 100 Europe enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 1,200 privately financed companies each year in the European Region. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring’s Top 100 list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring’s editors were among the first to recognize that companies such as Alibaba, Facebook, Google, SalesForce.com, Skype, SuperCell, Spotify, Twitter, and YouTube would change the way we live and work. Thousands of the most interesting and innovative companies have graced the Top 100 list over the years.

“In 2018, selecting the top achievers was by no means a small feat,”
said Alex Vieux, publisher and CEO of Red Herring. “In fact, we had the toughest time in years because so many entrepreneurs had crossed significant milestones so early in the European tech ecosystem. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Europe to the Top 100 Winners. We believe ITM embodies the vision, drive and innovation that define a successful entrepreneurial venture. ITM should be proud of its accomplishment, as the competition was very strong.”

Steffen Schuster, CEO of ITM, commented: “We are very excited to be honored with the Red Herring Award as it is recognizing our successful work in developing and supplying a new generation of targeted cancer diagnostics and therapies. Targeted Radionuclide Therapy is becoming a more and more promising therapy option for the treatment of cancer and has been successfully applied under compassionate use for quite some time already. We are confident to bringing our first radiopharmaceutical within a theranostic treatment approach of neuroendocrine tumors to market soon. Therefore, we want to make a significant contribution to treatment outcomes as well as to improve the quality of life for cancer patients.”

Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technological innovation, management quality, overall business strategy and market penetration. This assessment was complemented by a review of the track records and standings of similar startups in the same verticals, allowing Red Herring to see past the “hype” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Europe.

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About Targeted Radionuclide Therapy in Precision Oncology
Targeted Radionuclide Therapy is a medical specialty using very small amounts of radioactive compounds, called radiopharmaceuticals, to diagnose and treat various diseases, like cancer. Targeted radiopharmaceuticals contain a targeting molecule (e.g. peptide or antibody) and a medical radioactive isotope. The technique works by injecting the radio conjugate into the patient’s body where it accumulates in the affected organs or lesions. The targeting molecule binds to a tumor- specific receptor or antigen, according to a lock and key principle and is absorbed by the tumor cells. In most cases the targeting molecule can be used for both diagnosis and therapy – only the radioisotope has to be changed. This opens up the way for the application of Theranostics. For diagnostic applications radioisotopes with short half-lives are used. With highly sensitive molecular imaging technologies like PET (Positron Emission Tomography) or SPECT (Single Photon Emission Tomography), images of organs and lesions can be created and diseases can therefore be diagnosed in their early stages. Medical radioisotopes with longer half-lives are applied for treatment. The tumor tissue is being destroyed by the radiopharmaceutical emitting cytotoxic doses of ionizing radiation. A highly precise localization of the radioactivity ensures that healthy tissue in the surroundings of the targeted tumor is minimally affected.


About ITM
ITM Isotopen Technologien München AG is a privately held group of companies dedicated to the development, production and global supply of innovative diagnostic and therapeutic radionuclides and radiopharmaceuticals. Since its foundation in 2004, ITM and its subsidiaries have established the GMP manufacturing and a robust global supply network of a novel, first-in-class medical radionuclides and -generator platform for a new generation of targeted cancer diagnostics and therapies. Furthermore, ITM is developing a proprietary portfolio and growing pipeline of targeted treatments in various stages of clinical development addressing a range of cancers such as neuroendocrine cancers or bone metastases. ITM’s main objectives, together with its scientific, medical and industrial collaboration partners worldwide, are to significantly improve outcomes and quality of life for cancer patients while at the same time reducing side-effects and improving health economics through a new generation of Targeted Radionuclide Therapies in Precision Oncology. For more information about ITM, please visit: www.itm.ag

Contact
Nicola Scharrer
Head of Marketing
Phone: +49 89 3298986-16
Mail: Nicola.Scharrer(at)itm.ag

Media Contact: WE Communications
Stephanie Kunz
Account Director
Phone: +49 89 628175-19 
Mail: ITM_AG(at)we-worldwide.com

 

ITM Isotopen Technologien München AGChairman of the Supervisory Board - Udo J. Vetter, Executive Board - Steffen Schuster (Chairman), Thomas DürreRegistered Office of the Company - Lichtenbergstr. 1, 85748 Garching – Commercial Register Munich - HRB 154944