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ITM Radiopharma

Biotech & Life Sciences · Garching bei München, Germany · Founded 2004

ITM Radiopharma, established in 2004, is a privately held biotechnology and radiopharmaceutical company headquartered in Munich, Germany. The company was founded by Oliver Buck. A significant figure in ITM's development is Steffen Schuster, who joined as CEO in 2011 and transitioned the company from a radioisotope manufacturer to a comprehensive global radiopharmaceutical entity before moving to the Supervisory Board in August 2024. His successor as CEO is Dr. Andrew Cavey, who brings extensive experience from Novartis and Bristol Myers Squibb in the radiopharmaceutical sector. The company operates on a vertically integrated business model, focusing on the development, production, and global supply of radiopharmaceutical therapeutics and diagnostics for hard-to-treat tumors. Its core business involves linking medical radioisotopes to targeting molecules that can precisely identify and bind to tumor cells. This approach, known as Theranostics, allows for both diagnosis and targeted therapy, delivering radiation directly to cancer cells while minimizing damage to surrounding healthy tissue. Revenue is generated through the sale of its medical radioisotopes to a global network of hospitals and pharmaceutical partners, as well as from its developing pipeline of proprietary radiopharmaceutical drugs. ITM also provides related equipment, such as synthesizers and quality control systems. ITM's product development is centered on its precision oncology pipeline. The lead candidate, ITM-11 (n.c.a. 177Lu-edotreotide), is in late-stage Phase 3 trials for treating gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and is expected to have a New Drug Application submitted to the U.S. FDA in 2025. The pipeline also includes treatments for glioblastoma (ITM-31), prostate cancer, and ovarian cancer. A key competitive advantage is the company's in-house manufacturing of high-purity radioisotopes like non-carrier-added Lutetium-177 (n.c.a. ¹⁷⁷Lu) and its expansion into producing next-generation isotopes like Actinium-225 (²²⁵Ac). This is supported by state-of-the-art manufacturing facilities, including the recently opened NOVA facility in Germany, and strategic joint ventures like Actineer with Canadian Nuclear Laboratories to secure the supply of critical isotopes. The company has secured significant funding to fuel its growth and clinical development, including a €255 million equity round in June 2023 and a debt financing agreement of up to $262.5 million in May 2025. These funds are allocated to advance its clinical pipeline, enhance commercial infrastructure, and expand its leading radioisotope manufacturing capabilities to meet growing global demand. Keywords: radiopharmaceuticals, precision oncology, targeted radionuclide therapy, theranostics, Lutetium-177, Actinium-225, neuroendocrine tumors, GEP-NETs, clinical trials, isotope manufacturing, oncology therapeutics, cancer diagnosis, biopharmaceutical, ITM-11, molecular imaging, radioisotope supplier, cancer treatment, drug development, Oliver Buck, Steffen Schuster, Andrew Cavey, German biotech, vertically integrated, global supply chain, radiolabeling