What Isotopen Technologien München does

Isotopen Technologien München (ITM Isotope Technologies Munich SE) is a German radiopharmaceutical biotech founded in 2004 and headquartered in Garching near Munich, with a U.S. subsidiary in Princeton, New Jersey. The company manufactures non-carrier-added (n.c.a.) medical radioisotopes, principally Lutetium-177 and Actinium-225, at GMP-certified production facilities co-located with the FRM II research reactor in Garching and the NOVA site in Neufahrn. It combines these proprietary isotopes with targeting molecules to develop therapeutic radiopharmaceuticals for hard-to-treat solid tumors, with its lead candidate ITM-11 (n.c.a. ¹⁷⁷Lu-edotreotide) in Phase 3 development for gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and additional candidates ITM-31 for glioblastoma and ITM-22/24D for prostate cancer in earlier development.

ITM operates a hybrid revenue model across three streams: commercial sale of medical radioisotopes (n.c.a. Lu-177 and Ac-225) to pharmaceutical manufacturers, hospitals, and nuclear medicine facilities globally; future commercialization of its proprietary therapeutic pipeline; and regional licensing partnerships, exemplified by the Grand Pharma licensing deal for Greater China. The company distributes through direct enterprise sales to healthcare providers and pharmaceutical partners, regional licensing resellers, and long-term radioisotope supply agreements, with distribution supported by specialized logistics for radioactive materials. It has raised over €550 million in equity since 2021, led by Temasek, BlackRock, Qatar Investment Authority, ATHOS, and Carbyne, and holds a non-dilutive debt facility of up to USD 262.5 million with Perceptive Advisors to fund late-stage clinical development, manufacturing scale-up, and commercial launch preparation. As of April 2026, ITM was reported to be in discussions regarding the potential divestiture of its medical isotope production business, which generates approximately €60 million in EBITDA.

Name

Isotopen Technologien München

Legal name

ITM Isotope Technologies Munich SE

Website

https://itm-radiopharma.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ITM Isotope Technologies Munich SE is a German radiopharmaceutical biotech that manufactures non-carrier-added Lutetium-177 and Actinium-225 isotopes and develops targeted radiopharmaceutical therapies, led by Phase 3 candidate ITM-11 for GEP-NETs, serving hospitals, academic medical centers, and pharmaceutical manufacturers globally.

Ownership category

akta.pro rank

Product category

Radiopharmaceuticals

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Biological Product (except Diagnostic) Manufacturing (325414), In-Vitro Diagnostic Substance Manufacturing (325413)

SIC

Pharmaceutical Preparations (2834), In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro primary industry

Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)

akta.pro secondary industries

Radiopharmaceutical CDMO & Manufacturing (GMP Fill-Finish) (HLAIAGAF), Medical Radioisotope Production (Reactor/Cyclotron, Mo-99/Tc-99m, I-131, Lu-177, etc.) (EUAKAIAA), Radiopharmaceutical Manufacturing & CDMO (Synthesis, GMP, Packaging, QA/QC) (EUAKAIAC), Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC)

Keywords

• Radiopharmaceutical therapeutics
• Medical radioisotope production
• Targeted radionuclide therapy
• Precision oncology diagnostics
• Lutetium-177 manufacturing

Headquarters

HQ city

Garching

HQ country

Germany

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Radioisotope Product Sales: ITM manufactures and sells medical radioisotopes including Lutetium-177 and Actinium-225 to pharmaceutical companies, hospitals, and nuclear medicine facilities globally. The company supplies radioisotope products for both diagnostic and therapeutic applications.
2. Radiopharmaceutical Pipeline Products: Revenue expected from commercialization of proprietary radiopharmaceutical pipeline candidates including ITM-11 (Phase III for GEP-NETs). The company combines its radioisotope manufacturing capabilities with targeting molecules for proprietary therapeutic products.
3. Licensing and Regional Partnerships: ITM grants licensing rights to partners for development and commercialization of certain candidates in specific regions. Example: Grand Pharma licensing deal for Greater China and nearby regions.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

ITM manufactures and globally supplies high-purity medical radioisotopes — non-carrier-added Lutetium-177 and Actinium-225 — produced at GMP-certified facilities in Germany. The company combines these proprietary radioisotopes with targeting molecules to develop a precision oncology pipeline, including Phase III candidate ITM-11 (177Lu-edotreotide) for gastroenteropancreatic neuroendocrine tumors, ITM-31 for glioblastoma, and ITM-22/ITM-24D for prostate cancer, while also selling radioisotope products to pharmaceutical manufacturers and healthcare providers worldwide.

Product overview

ITM Isotope Technologies Munich SE is a radiopharmaceutical biotech company offering a precision oncology platform combining proprietary radioisotopes with targeting molecules. The product portfolio centers on three Phase 3/near-Phase 3 pipeline candidates—ITM-11 (¹⁷⁷Lu-edotreotide for GEP-NETs), ITM-31 (for glioblastoma), and ITM-22/ITM-24D (for prostate cancer)—alongside a commercial radioisotope supply business producing Lutetium-177 (n.c.a.) and Actinium-225. The company operates GMP manufacturing facilities in Germany (Garching/Munich, Neufahrn) and a U.S. headquarters in Princeton, NJ, providing end-to-end capabilities from isotope production through radiopharmaceutical delivery for hard-to-treat tumors.

Differentiator

Problem solved

Functional benefit

Products and services

• ITM-11 (¹⁷⁷Lu-edotreotide) Investigational radiotherapeutic combining non-carrier-added Lutetium-177 with edotreotide to target somatostatin receptors on gastroenteropancreatic neuroendocrine tumors (GEP-NETs). Designed for hospitals, nuclear medicine departments, and oncology centers treating patients with GEP-NETs.
• ITM-31 Investigational targeted radiopharmaceutical candidate for the treatment of glioblastoma, leveraging ITM's radioisotope capabilities for brain tumor therapy. Targeted at neuro-oncology centers and academic medical centers treating glioblastoma patients.
• ITM-22 / ITM-24D Investigational PSMA-targeted radiopharmaceutical candidate for the treatment of prostate cancer. Designed for nuclear medicine departments, urology centers, and oncology centers treating prostate cancer patients.
• Lutetium-177 (n.c.a.) Non-carrier-added (n.c.a.) Lutetium-177 medical radioisotope used as the active pharmaceutical ingredient in targeted radiopharmaceutical therapies for neuroendocrine tumors, prostate cancer, and other cancers. Supplied to pharmaceutical manufacturers and nuclear medicine facilities globally.
• Actinium-225 Alpha-emitting Actinium-225 medical radioisotope for targeted alpha therapy in radiopharmaceutical applications. Currently in development and production expansion, with supply targeted at pharmaceutical manufacturers and research institutions developing alpha-emitting radiopharmaceuticals.

Quantifiable outcome

• ITM-11 (177Lu-edotreotide) demonstrated median progression-free survival of 23.9 months vs 14.1 months for everolimus (p=0.022) in Phase 3 COMPETE trial for GEP-NETs
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered strategic and core.

• Positron Precision GmbHstrategicStrategic or Co-development Partner · 18 August 2022ITM acquired Positron Precision GmbH in August 2022. The company develops technology platforms for PET tracers and radiotherapeutic candidates. This acquisition enables ITM to develop new targeted PET solutions and expand its radiotherapeutic oncology pipeline.
• Grand PharmacoreStrategic or Co-development Partner · 16 February 2022Grand Pharma made a €25 million equity investment in ITM in February 2022, following a licensing deal granting rights to develop and commercialize certain ITM candidates in Greater China and nearby regions. This strengthens strategic alliance for Asian market development.
• NTP Radioisotopes (South Africa)coreStrategic or Co-development Partner · 1 January 2012Technology transfer agreement concluded in 2012 resulted in reliable and sustainable supply of non-carrier-added 177Lu from NTP's GMP certified facility in South Africa. This partnership ensures critical isotope supply for ITM's radiopharmaceutical production.
• Technical University of Munich (TUM)coreStrategic or Co-development Partner · 1 January 2012Long-standing collaboration between Technical University of Munich and ITM built on foundation of trust and joint pursuit of innovation. Prof. Dr. Winfried Petry from TUM was instrumental in ITM's founding near the FRM II research reactor.
• ETH Zurich / PSI (Paul Scherrer Institute)strategicStrategic or Co-development Partner · 1 January 2012Collaboration with Center for Radiopharmaceutical Sciences ETHZ-PSI for research and development. Prof. Roger Schibli leads the center and works with ITM on radiopharmaceutical science.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Novartis: Novartis markets Lutathera (177Lu-DOTATATE) and Pluvicto (177Lu-PSMA-617), the leading approved radioligand therapies in GEP-NETs and prostate cancer. It is the dominant incumbent that ITM-11, ITM-22, and ITM-31 will directly or indirectly compete against.
• Bayer: Bayer's Pharma division markets Xofigo (Ra-223) and is actively investing in targeted radionuclide therapies including PSMA-targeted programs, making it a broad incumbent competitor in radioligand oncology where ITM operates.
• GE HealthCare: GE HealthCare operates a broad radiopharma and imaging portfolio, including PET tracers, SPECT agents, and a growing therapeutic radiopharma franchise (acquired MIM Software and assets). It is a broad incumbent whose scale and channel reach overlap with ITM's commercial ambitions.

Direct peers

• Telix Pharmaceuticals: Telix is a commercial-stage radiopharmaceutical company developing diagnostic and therapeutic agents, including Illuccix (PSMA-PET imaging) and late-stage TLX591 (177Lu therapy for prostate cancer). It overlaps directly with ITM on PSMA-targeted prostate cancer programs and Lu-177 isotope supply.
• Lantheus Holdings: Lantheus is a radiopharmaceutical-focused company with diagnostic agents (e.g., PYLARIFY PSMA-PET) and an expanding therapeutic pipeline. Its PSMA imaging franchise and emerging 177Lu therapy efforts make it a direct strategic peer to ITM.
• Fusion Pharmaceuticals: Fusion was a clinical-stage radioconjugate company developing actinium-225-based alpha therapies in oncology (now part of AstraZeneca). It is highly comparable to ITM on alpha-emitting isotope strategy and targeted radionuclide therapy development.
• Point Biopharma: Point Bio was a clinical-stage radiopharmaceutical company developing 177Lu-PSMA and 177Lu-DOTATATE therapies (acquired by Eli Lilly). It overlaps directly with ITM's ITM-11 and ITM-22 programs and was a key competitor in the same indications.
• Curium: Curium is one of the world's largest nuclear medicine manufacturers, producing Lu-177, Mo-99/Tc-99m and other medical isotopes with global PET and SPECT distribution. It is a direct peer to ITM's radioisotope manufacturing business and a potential supply partner or competitor.
• AAA (Advanced Accelerator Applications, a Novartis company): AAA is the Novartis-owned radioligand therapy specialist that developed and now commercializes Lutathera, the direct benchmark for ITM-11. It is the most direct competitor in targeted radiopharmaceutical therapy for GEP-NETs.

Regional players

• Bracco Imaging: Bracco is a global imaging agent and radiopharmaceutical company with a strong diagnostic imaging portfolio and growing therapeutic radionuclide investments. It is a relevant peer on the imaging/diagnostic radiopharma side, particularly in Europe where ITM is headquartered.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/itm_ag
• YouTubeyoutube.com/channel/UC_G4qw7UAXCpuoyPTL6Q16w
• LinkedInlinkedin.com/company/itm-radiopharma

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries6 records

Funding overview

Funding rounds9 records

Investors14 records

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M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Isotopen Technologien München