OTTAWA, Ontario — BWX Technologies, Inc. (NYSE: BWXT) today announced that subsidiary BWXT Medical Ltd. has entered into a commercial agreement with Bayer AG (Bayer) for the supply of high purity Actinium-225 (Ac-225).
Today’s announcement follows the agreement the two companies reached in September 2021. Under the terms of the commercial agreement, Bayer will purchase high purity Ac-225 from BWXT Medical at pre-determined prices. The parties expect delivery to start later this year.
Ac-225 is a very potent radioisotope used in targeted alpha therapies (TATs). This emerging field combines Ac-225 with specific tumor-seeking moieties, which deliver alpha radiation directly to tumors.
BWXT Medical is a global supplier of medical isotopes and radiopharmaceuticals. Bayer is a global company with core competencies in life sciences, healthcare and nutrition.
“We are very pleased to enter into this agreement with Bayer, one of the world leaders in the rapidly emerging field of targeted radionuclide therapies,” said Martyn Coombs, president of BWXT Medical. “Targeted radionuclide therapies have been developed to improve outcomes for patients with various cancers. We will use our strengths in nuclear medicine to work with Bayer in the long term.”
BWXT cautions that this press release contains forward-looking statements, including statements regarding expectations for the development, production, performance, demand, timing and impact of Ac-225. These forward-looking statements involve a number of risks and uncertainties, including changes in market demand, delays in the development and automation of our production, regulatory approvals and competitive actions. If one or more of these or other risks materializes, actual results could differ materially from those expressed. For a more complete discussion of these and other risk factors, see BWXT’s annual report on Form 10-K for the year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release, and assumes no obligation to update or revise any forward-looking statements, except to the extent required by applicable law.
At BWX Technologies, Inc. (NYSE: BWXT) we are People Strong, Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator providing safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 14 major operational sites in the US, Canada and the UK. In addition, BWXT’s joint ventures manage and operate more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com†
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