Clermont-Ferrand (France), April 11 2018 - Cyclopharma, specialized in molecular imaging solutions, is planning to divest its manufacturing assets and radiopharmaceutical drugs production and commercialization activities in France to Curium group, a world-class company specialized in the development, production and commercialization of tracers for nuclear medicine imaging.
Cyclopharma, created in 2000, based in Clermont-Ferrand (France), develops, produces and distributes diagnostic oncologic, neurologic and cardiac imaging drugs to healthcare professionals. Acquired by Denos in 2013, Cyclopharma employs more than a hundred employees, at its 7 production and R&D sites in France. Today, Cyclopharma is a leader in molecular imaging, a technique which improves patients’ quality of life, efficacy of treatment while reducing costs.
Curium was created in January 2017 by uniting IBA Molecular and Mallindkrodt Nuclear Medicine LLC and has made a stock purchase offer to acquire Cyclopharma from Denos. With this proposed acquisition, Curium intends to increase its production capabilities to provide their customers optimal access to the tracers, meeting growing product demand. Curium would integrate the acquired production facilities into their existing radiopharmaceutical manufacturing network. This enhanced network would enable the commercial production of new compounds, as well as support the development of new products.
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Upon the completion of the offer, R&D and international activities of Cyclopharma would be transferred to a dedicated subsidiary which would be owned and managed by Denos. The subsidiary would take over Cyclopharma’s current R&D projects, and commercialize those molecules in France and worldwide directly or with industrial partners.
The divestiture of the manufacturing assets and French commercial activities will allow the management and development team to focus on the new company’s mission of developing and commercializing best-in-class molecular imaging and therapy drugs. The new entity would be based in both France and the United-States. The international presence will build a strong platform for developing and commercializing products.
The first goal of the new company will be to launch EstroTep®, a new radiopharmaceutical tracer bringing an innovative approach for breast cancer diagnosis in Europe, and seek FDA clearance in the US. EstroTep® is considered by the scientific and medical community as a useful tool in the management of breast cancer.
About Cyclopharma
Since its creation in 2000, Cyclopharma has developed molecular imaging solutions to allow the observation of cell function in vivo as part of the targeted treatment of cancer, in order to improve individualized treatment plans for patients in terms of diagnostics, monitoring and therapeutic effectiveness, whilst also reducing costs.
With more than 120 employees and revenue of €23 million, Cyclopharma invests more than 10% of revenue in research into novel molecular imaging tracers. Since 2015 it has built on dense and balanced geographical coverage to drive international growth, with the aim of becoming a major European force in personalized medicine.
