December 1st, 2020

// ISOLOGIC acquires diagnostic FDG distribution from CPDC

ISOLOGIC acquires diagnostic FDG distribution from CPDC

Acquisition will provide hospitals, physicians and patients with a more robust and reliable supply chain for critical diagnostic FDG molecules

MONTREAL, Dec. 1, 2020 /CNW/ - ISOLOGIC Innovative Radiopharmaceuticals is pleased to announce it has reached a preliminary agreement with the Centre for Probe Development and Commercialization (CPDC) to acquire CPDC's commercial distribution of diagnostic FDG molecules. Through this agreement, ISOLOGIC will integrate 18FDG manufacturing and distribution under a single brand, while maintaining the highest level of product quality and customer service. 

ISOLOGIC is committed to ensuring Canadians can depend on a reliable, efficient, and locally made radiopharmaceutical supply. Radiopharmaceuticals are used in imaging technologies, notably single photon emission computed tomography (SPECT) and positron emission tomography (PET), to diagnose and assess cancer tumors and metastases, seizures, strokes, infections and other serious medical conditions.

The vision behind this transaction is simple: to help provide improved healthcare across Canada and assist physicians by delivering the most clinically relevant PET and SPECT radiopharmaceuticals in a safe, reliable manner to ultimately help save patient's lives. 

"Today's acquisition and resulting consolidation is essential to safeguarding Canada's critical radiopharmaceutical supply chain and will further improve the delivery of care to patients," said Andre Gagnon, President of ISOLOGIC Innovative Radiopharmaceuticals. "Isologic is more committed than ever to our role as a vital partner to the health system amidst the current health crisis and challenges Canada is facing." 

This acquisition builds on ISOLOGIC's previous investments and strengthens its ability to meet the needs of Canadians for these critical radiopharmaceuticals safely, efficiently, and consistently. Today's announcement marks a key step in fulfilling this goal.

As a result of this acquisition, both ISOLOGIC and CPDC will be able to focus on their key strengths in serving Canada's healthcare community. 

"CPDC is confident that ISOLOGIC will continue to provide excellence in service and supply for our hospital partners and their patients across Canada," said Bruno Paquin, Interim Chief Executive Officer of CPDC. "We're excited to continue expanding our ground-breaking work to discover, develop and distribute next generation imaging agents and targeted radiotherapeutics for the detection and treatment of human diseases." 

Given the short shelf-life of FDG products, the need to manufacture to rigorous Canadian GMP standards, and the essential nature of FDG-based imaging technology for Canada's health care system, this transaction will help ensure production capacity stays close to major Canadian delivery-of-care locations. 

Hospitals, physicians and patients will benefit from a more robust and reliable supply chain to meet today's and tomorrow's needs. True to its track-record, ISOLOGIC will remain a strategic partner for health care systems across Canada. 

"We look forward to servicing CPDC's trusted customers, and we commit to doing so in accordance with the highest national and professional standards," said Mr. Gagnon. "This acquisition will allow ISOLOGIC to maintain and enhance the level of service that CPDC's customers have experienced in the past. Our objective is to build on these important relationships and to grow new, long-lasting ones."

About ISOLOGIC Innovative Radiopharmaceuticals Inc.

ISOLOGIC Innovative Radiopharmaceuticals (ISOLOGIC) is a Canadian company dedicated to nuclear medicine and the science of radiopharmaceutical production. ISOLOGIC's commitment in these areas includes cyclotron centers, SPECT and PET radiopharmaceutical manufacturing facilities across Canada. We use our increased experience, expertise and radiopharmaceutical network to provide our customers and patients reliable, safe and high-quality radiopharmaceutical products and services. ISOLOGIC's radiopharmaceutical drug and medical device offers flexibility of choice, providing its clients with access to all radiopharmaceuticals that have Health Canada's market authorization.

SOURCE IsoLogic Innovative Radiopharmaceuticals


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