SOFIE

About SOFIE

SOFIE positions itself as a specialized developer and manufacturer in the radiopharmaceutical sector, focusing on molecular diagnostics and therapeutics, a field often referred to as theranostics. The company operates as a contract development and manufacturing organization (CDMO), partnering with pharmaceutical companies to produce and deliver time-sensitive radiopharmaceutical products to hospitals and imaging centers across the United States.

The company's journey began in 2008 when it was founded as a spinout from UCLA and Caltech by a group of scientists and physicians, including Dr. Michael Phelps, the inventor of the PET scanner, Patrick Phelps, Dr. Owen Witte, Dr. Johannes Czernin, and Dr. James Heath. Patrick Phelps, with a background in biology and extensive experience in the PET and radiopharmaceutical industry at companies like CTI Molecular Imaging and Siemens Healthcare, has been the President & CEO since its inception. The founding vision was to make Positron Emission Tomography (PET) imaging more accessible by overcoming cost and complexity barriers. A significant step in its expansion was the addition of a radiopharmacy network in 2017, enhancing its global distribution capabilities.

SOFIE's business model is multifaceted, generating revenue through several streams. A core component is its contract manufacturing services, which span from research and development to clinical trials and commercial supply of diagnostic and therapeutic compounds. The company operates a network of 14 radiopharmacies for the just-in-time production and distribution of PET radiopharmaceuticals. They also develop and commercialize their own portfolio of molecular imaging probes and devices, including a notable class of compounds targeting Fibroblast Activation Protein (FAP), licensed from University Clinic Heidelberg. These FAP inhibitors (FAPI) are used in diagnostics and therapeutics for various cancers. SOFIE serves a diverse client base, including pharmaceutical partners, academic institutions, and federal agencies like the Department of Veterans Affairs and the Defense Health Agency.

Financially, SOFIE has progressed through multiple funding rounds, including a $27.4 million Series C in November 2020, led by Jubilant Pharma. This investment was aimed at expanding manufacturing capacity and advancing its FAPI theranostic pipeline. More recently, in 2024, the company entered into a definitive merger agreement with private equity firm Trilantic Capital Partners North America, which made a substantial growth investment to accelerate the company's initiatives.