Alpha Tau Medical and Tolmar International have agreed to a deal worth up to $196 million to collaborate on the development and commercialization of Alpha DaRT treatment for prostate cancer in the U.S.
Alpha DaRT (diffusing alpha-emitters radiation therapy) delivers alpha-radiation directly inside solid tumors via recoiling radioisotopes, with the goal of destroying cancer cells while sparing surrounding healthy tissue. Under the agreement, Tolmar will make a $20 million equity investment in Alpha Tau at closing and contribute $15 million toward construction of a new U.S. production facility, the companies said. The deal also includes up to $96.5 million in development and regulatory milestone payments and up to $65 million in commercial milestones for the prostate cancer indication.
Tolmar will hold exclusive U.S. commercialization rights for prostate cancer for 20 years from first commercial sale, the firms noted.
