Evergreen Theragnostics
Overview
Evergreen Theragnostics is a clinical-stage radiopharmaceutical company based in Springfield, New Jersey. Founded in 2019 by James Cook and Enrico De Maria, the company focuses on developing and manufacturing innovative radiopharmaceutical therapies for oncology and other disease areas. As of October 2024, Evergreen Theragnostics has raised approximately $63.5 million through several funding rounds, with key investments from Petrichor and LIFTT.
Recent Developments
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October 2024: Evergreen Theragnostics announced the initiation of a Phase II clinical trial titled "CCK2-VIEW" for small cell lung cancer in the European Union. The trial uses 68Ga-EVG321, a peptide-based radioligand imaging agent aimed at assessing tumor-specific delivery in small cell lung cancer patients.
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May 2024: The company announced a licensing agreement with the Medical University of Innsbruck to develop radioligand therapies targeting cholecystokinin 2 receptors (CCK2R) in collaboration with the Austrian institution. This collaboration aims to advance the clinical development of the investigational therapy EVG321.
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April 2024: Evergreen completed a $26 million capital raise which will be used to further advance its radiopharmaceutical pipeline into clinical trials and expand its CDMO (Contract Development and Manufacturing Organization) services.
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September 2023: In collaboration with UPPI and Jubilant Radiopharma, Evergreen Theragnostics planned the distribution of Octevy™, a diagnostic kit for Ga 68 DOTATOC Injection, pending FDA approval. This marks a significant step toward commercializing their diagnostic product line in the United States market.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Springfield, New Jersey |
| Founders | James Cook, Enrico De Maria |
| Revenue | N/A |
| Profits | N/A |
| Key Investors | Petrichor, LIFTT |
| Industry | Radiopharmaceuticals |
| Number of Employees | Approx. 55 |
Early History
Evergreen Theragnostics was founded to specialize in theragnostic radiopharmaceutical products, leveraging the founders' extensive experience in radiopharmaceutical commercialization and manufacturing. The company's initial goal was to address the high demand for reliable manufacturing and commercialization of radiopharmaceuticals used in diagnostics and therapeutics. In 2021, Evergreen opened a state-of-the-art 14,000 square foot manufacturing facility in Springfield, NJ, designed to meet global cGMP standards for therapeutic and diagnostic radiopharmaceutical production.
Company Profile and Achievements
Evergreen Theragnostics operates primarily as a CDMO, offering services from early-stage development through to full-scale manufacturing and commercialization of radiopharmaceuticals. Notably:
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2021: The completion of a manufacturing facility in New Jersey that adheres to stringent global cGMP standards, catering to both the therapeutic and diagnostic sectors of radiopharmaceuticals.
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Product Development: Evergreen has been active in developing its pipeline, focusing on novel radiopharmaceutical agents like EVG321 for small cell lung cancer. The company also focuses on diagnostics, with the development of the Ga-68 DOTATOC kit for neuroendocrine tumors.
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Strategic Collaborations: The company has formed alliances with leading institutions such as the Medical University of Innsbruck for advancing its product pipeline in radioligand therapy.
Current Operations and Market Position
As of 2024, Evergreen Theragnostics continues to innovate within the radiopharmaceutical industry by expanding its operations and the scope of its clinical trials. The company's Springfield facility is a core asset, supporting its strategic growth in the market for theranostic radiopharmaceuticals.
Evergreen's focus on small cell lung cancer and neuroendocrine tumor diagnostics establishes its competitive edge. By forming strategic alliances and leveraging its high-quality manufacturing capabilities, Evergreen positions itself as a notable player in the specialized field of radiopharmaceuticals.
Conclusion
Evergreen Theragnostics has made significant strides in radiopharmaceuticals, emphasizing the development of innovative therapies and diagnostic tools for oncology. By expanding their clinical trials into Europe and strengthening their manufacturing capabilities, Evergreen is well-positioned for potential growth and impact in the radiopharmaceutical industry. Their collaborative efforts with renowned institutions further underline their commitment to advancing therapeutic options for critical diseases like small cell lung cancer.