DALLAS—Looking to expand their respective offerings to the radiopharmaceutical community, Trace Life Sciences and Macrocyclics announced they will work together on custom projects developing targeted tools for biomedical imaging and therapeutics development. The agreement will see Trace combine its expertise in radioisotope production for PET and radioimmunotherapeutics with Macrocyclic's expertise in bifunctional chelating agents designed to link therapeutic molecules to targeting agents.
"We are delighted to have this agreement with our Texas neighbor to help bring the benefits of both companies together," says Trace CEO Darren Brown. "Researchers can now focus on their work and not on the often cumbersome and difficult labeling task."
Despite the safety concerns associated with the use of radioisotopes, the application of these molecules as labeling agents for medical imaging has grown significantly in recent years. According to a recent report by Kalorama Information, contrast and labeling agent component of the medical imaging industry should surpass $15 billion by 2010. Similarly, with oncology indications leading the way, the market for targeted radiotherapeutics is expected to grow from its current size of about $2 billion globally.