ATNM - Actinium gains on agreement with Immedica Pharma for conditioning agent

Clinical-stage biotech Actinium Pharmaceuticals (NYSE:ATNM) and Swedish pharma group, Immedica Pharma AB announced an agreement for Iomab-B, a drug combination being developed for targeted conditioning in bone marrow transplant and other cell and gene therapies. The news of the license and supply agreement covering Europe, the Middle East and North Africa has sent Actinium (ATNM) shares ~27% higher in the pre-market Tuesday. Per the terms, Actinium (ATNM) is set to receive $35 million of upfront payment in addition to $417 million in regulatory and commercial milestones as well as royalties in the mid-twenty percent range on net sales. In return, Immedica will claim the commercialization rights for Iomab-B in Europe and MENA countries. Actinium (ATNM) retains rights in the U.S. and the rest of the world and the U.S. company will also be responsible for certain clinical and regulatory activities and manufacturing of the drug.

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Actinium gains on agreement with Immedica Pharma for conditioning agent