Advanced Accelerator Applications to Build Targeted Radioligand Therapy Production Facility in Indianapolis

SAINT-GENIS-POUILLY, France, June 30, 2020 /PRNewswire/ -- Advanced Accelerator Applications S.A. (AAA), a Novartis company, today announced it has executed a sales and purchase agreement for land on which a 50,000 square foot targeted Radioligand Therapy (RLT) manufacturing plant will be built. The new facility will be located within the Purdue Research Park, near the Indianapolis International Airport, with completion and initial operations anticipated in 2023.

The facility will significantly expand AAA's manufacturing capacity in the US and will feature state-of-the art, advanced manufacturing technologies, reflecting the latest innovations in radiopharmaceutical production. The facility is intended to support near and long-term manufacturing capacity planning for AAA's marketed products and for clinical supply. Initially, several production lines will be installed, with plans to further expand capacity. The facility will be built to the highest quality standards of safe and efficient operations.

Mike Rossi, General Manager, US for Advanced Accelerator Applications said, "We are excited by the response to our first targeted Radioligand Therapy, LUTATHERA^® (lutetium Lu 177 dotatate), in the US market and expect to follow this success with new treatments for other cancer types. Given the growing demand for these targeted treatments and the need to deliver such drugs to patients within a few days of production, we are expanding our US manufacturing footprint with this new site."

Indiana Secretary of Commerce, Jim Schellinger, stated, "Indiana's pro-growth business climate and 21^st century talent pipeline makes us an ideal destination for companies like Advanced Accelerator Applications, and we are so thrilled to be home to their new manufacturing facility. We look forward to supporting them and watching them continue to thrive, creating high-quality career opportunities for Hoosiers in the process."    

Sidonie Golombowski-Daffner, Chair and President, Advanced Accelerator Applications, noted, "This investment further demonstrates our commitment to patients by ensuring availability of our medicines. We believe that Radioligand Therapy has the potential to become a major pillar of cancer treatment. We are also proud to support the communities in which we operate by creating skilled jobs and promoting economic growth."

Targeted Radioligand Therapy is a form of targeted therapy which combines a precision targeting compound with a therapeutic radioactive particle that binds to markers expressed by tumors, inhibiting tumor growth and replication. Due to the high-affinity for specific tumor cells, surrounding healthy tissue is less affected.

Joe Hogsett, Mayor, City of Indianapolis, commented, "Indianapolis is proud to have been selected as the location for this new production facility. Today's announcement continues our focus on the growth of Opportunity Industries that, beyond the research and innovation they represent, provide sustainable career opportunities for area residents. This decision by Advanced Accelerator Applications further affirms the reputation of the Purdue Research Park network as a premiere center for technology-based companies, and I look forward to their success in Indy."  

Disclaimer
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as "potential," "can," "will," "plan," "may," "could," "would," "expect," "anticipate," "seek," "look forward," "believe," "committed," "investigational," "pipeline," "launch," or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for the investigational or approved products described in this press release, or regarding potential future revenues from such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the investigational or approved products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that such products will be commercially successful in the future. In particular, our expectations regarding such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political, economic and business conditions, including the effects of and efforts to mitigate pandemic diseases such as COVID-19; safety, quality, data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

About Advanced Accelerator Applications S.A.
Advanced Accelerator Applications, S.A. (AAA), a Novartis company, is developing targeted radioligand therapies and precision imaging radioligands for oncology indications. We are committed to transforming patients' lives by leading innovation in nuclear medicine. AAA has a legacy as a leader in radiopharmaceutical drugs for Positron Emission Tomography (PET) and Single-Photon Emission Computed Tomography (SPECT) diagnostic imaging. For more information, please visit: https://www.adacap.com/

SOURCE Advanced Accelerator Applications

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