North American Scientific/Theseus Medical
This article was originally published in The Gray Sheet
Executive Summary
Funding for Phase II trials of Theseus' Apomate and Leukomate radiopharmaceutical agent for nuclear medicine imaging will come from North American Scientific in the form of a $3.5 mil. advance payment related to its planned $3 mil. acquisition of the company, a letter of intent for which is announced Nov. 24. A 30-patient Phase I trial of Apomate, a Technetium-99-m-labeled imaging agent, is complete. Data from preclinical studies showed that the agent effectively binds to apoptosis-specific cell markers of responsive tumor cells within one to two hours of chemotherapy
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North American Scientific
Firm completes stock-swap acquisition of radiopharmaceutical developer Theseus Oct. 16. The price tag of roughly $18.5 mil. includes about $10.5 mil. of Theseus' debt. Ongoing European and U.S. clinical trials for Theseus' Apomate imaging agent are being funded by NAS (1"The Gray Sheet" Nov. 30, 1998, p. 23)
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