June 7 Quick Takes: Radiopharma play ITM raises €255M

The latest sign of renewed enthusiasm for radiopharmaceutical developers is a €255 million ($272.6 million) equity investment in Germany-based ITM Isotope Technologies Munich SE, with Temasek leading. The biotech is conducting Phase III testing of lead program ITM-11 to treat gastroenteropancreatic neuroendocrine tumors (GEP-NETs), and has begun Phase I testing of ITM-31 to treat glioblastoma. Also participating were BlackRock Alternatives, Qatar Investment Authority, Nextech, ATHOS and Carbyne; the company said the round mostly comprised primary capital "alongside a minority transaction of secondary shares."

Tufts University spinout Hopewell Therapeutics Inc. said it hopes to raise up to $25 million in seed funding to develop tissue-targeted lipid nanoparticles that can deliver various cargoes to extrahepatic tissues and cell types, including the CNS. Internally, the company will advance a pipeline addressing lung disorders; it is also aiming to form partnerships with other biopharmas. Investors include Mass Ave Capital, 5Y Capital, HIKE Capital, BOPU Capital, IMO Capital and WS Investments, Hopewell’s president and CEO is Louis Brenner; he was president and CEO at Allena Pharmaceuticals Inc., which filed for Chapter 11 bankruptcy last year...