- Temasek is an investment company based in Singapore
- BlackRock Alternatives, QIA, Nextech, ATHOS and Carbyne also participated in the round
- BlackRock Alternatives is based in New York
ITM Isotope Technologies Munich has secured an equity investment of €255 million led by Temasek with participation from BlackRock Alternatives, Qatar Investment Authority (QIA), Nextech, ATHOS and Carbyne.
ITM is a radiopharmaceutical biotech company headquartered in Munich, Germany.
This investment comprised mostly primary capital alongside a minority transaction of secondary shares, according to a release.
The net proceeds will enhance ITM’s radiopharmaceutical pipeline, bolster commercial infrastructure, expand manufacturing capabilities and enable strategic initiatives, the release added.
“As we near the final stages of clinical development for ITM-11 in GEP-NETs, this substantial investment will help to further grow our supply network and accelerate our efforts to bring new, targeted treatments to patients living with hard-to-treat cancers,” said Steffen Schuster, CEO of ITM.
ITM announced that Petrichor Healthcare Capital Management’s €90 million convertible loan was converted into equity per the terms of that initial agreement,.
Temasek is an investment company with a net portfolio value of S$403 billion ($297 billion; €268 billion) as of 31 March 2022. The firm is based in Singapore.
BlackRock Alternatives, based in New York, oversees a range of alternative asset strategies including infrastructure, private equity, credit, real estate, hedge funds and multi-alternatives.
QIA is the sovereign wealth fund of the state of Qatar.
Nextech is a global, cancer therapeutics-focused venture capital firm headquartered in Zurich, Switzerland.
Carbyne Equity Partners is a European private equity firm that focuses on healthcare, nutrition and agricultural technology. The firm is based in Hamburg, Germany.
Petrichor partners with healthcare managers and businesses to provide customised investment structures and support. The firm is based in New York.