IBA takes 25% stake in German radiopharmaceuticals supplier
PET Net
19 April 2011
Belgian company Ion Beam Applications (IBA) S.A. has taken a
minority stake in PET Net GmbH and PET Net Solutions AG, providers of
PET radiopharmaceuticals to nuclear medicine facilities in Germany.
Under the terms of the agreement, IBA has purchased 25.2% of PET Net
from its owner, Medical Imaging Research Holding GmbH.
IBA says the acquisition reinforces its position as the leading
global supplier of PET radiopharmaceuticals and provides a local
partner in Germany for developing and distributing future
proprietary molecules.
PET Net operates two profitable commercial GMP-certified PET
sites located in Erlangen and Regensburg, Germany, has a European
marketing authorization for FDG, a PET radiopharmaceutical used in
oncology, and is a service provider for establishing PET production
sites.
IBA, which already has a German subsidiary, CIS bio GmbH,
providing SPECT products, will now have access to a local PET
infrastructure to build the foundation for a PET offering and round
out its nuclear medicine portfolio in Germany, a key
radiopharmaceuticals market.
“IBA’s growth strategy has focused on expanding its manufacturing
and distribution network in every major nuclear medicine market, and
having a PET infrastructure in Germany was a critical element of
this development,” said Pierre Mottet, chief executive officer of
IBA. “IBA’s acquisition of shares in PET Net supports the uniqueness
of our global network and brings the company one step closer to
consolidating its position as market leader in next generation
radiopharmaceuticals used in personalized medicine on a global
scale.”
“PET Net and IBA share a joint mission, that of improving patient
care,” said Professor Willi Kalender, founder and owner of PET Net.
“I chose the name PET Net when founding the company in 1998 to make
it clear from the start that a network is the goal. By partnering
and joining complementing areas of expertise, we can facilitate this
mission and develop novel proprietary molecules for the German
radiopharmaceuticals market.”
PET is a non-invasive method used in molecular imaging to
visualize biological processes for the early detection and real-time
monitoring of diseases. By providing doctors with information about
a body’s function as well as structure, diseases and their response
to treatment can be imaged at a very early stage, which can lead to
earlier, safer and more effective treatments.
As PET radiopharmaceuticals must be delivered within a crucial
window of time, IBA’s unique network of facilities enables it to
quickly supply safe and reliable solutions to nuclear medicine
specialists across the globe.