Algeta

About Algeta

Algeta ASA, a Norwegian pharmaceutical company, specializes in the development, manufacturing, and marketing of novel targeted therapies for cancer patients. The company's lead product, Xofigo® injection (radium Ra 223 dichloride), is an alpha particle-emitting pharmaceutical designed to treat bone metastases with anti-tumor effects. In 2009, Algeta entered into an agreement with Bayer for the global development and commercialization of Xofigo. Under this agreement, Bayer is responsible for obtaining health authority approvals and commercializing Xofigo worldwide, while Algeta receives royalties and milestones based on Bayer’s sales outside the US. In the US, Algeta co-promotes Xofigo with Bayer. Additionally, Algeta is exploring the potential of Targeted Thorium Conjugates (TTCs), which involve conjugating the alpha-emitter thorium-227 to targeting molecules, as a basis for future tumor-targeting alpha-pharmaceutical candidates. In March 2014, Bayer completed a voluntary takeover offer for Algeta, acquiring 98.2% of the shares and voting rights, with plans to acquire the remaining shares and delist Algeta from the Oslo Stock Exchange.