Alpha Tau Medical Ltd. (DRTS), developer of Alpha DaRT platform, and Tolmar International Ltd., announced a strategic collaboration agreement to develop and commercialize Alpha DaRT for prostate cancer treatment in the United States.
Prostate cancer is the second-leading cause of cancer death in American men, with more than 330,000 new cases expected this year. Current surgical options often result in long-term complications such as erectile dysfunction and urinary incontinence, underscoring the need for new alternatives.
Under the agreement, Tolmar will hold exclusive U.S. commercialization rights for prostate cancer indications for 20 years from first commercial sale, with an option to expand into bladder cancer upon meeting clinical milestones. Alpha Tau will manufacture Alpha DaRT for Tolmar's commercialization, with product supplied at 60% of onward net sales price.
Tolmar has committed an initial $15 million manufacturing investment, a $20 million equity infusion at $11.99 per share, and up to $161.5 million in milestone payments tied to clinical regulatory and commercial achievements.
Alpha DaRT delivers highly potent alpha-radiation directly inside tumors, designed to destroy cancer cells with precision while sparing surrounding healthy tissue.Alpha Tau CEO Uzi Sofer said the collaboration with Tolmar "represents a significant step toward bringing Alpha DaRT to U.S. patients, leveraging Tolmar's established commercial infrastructure in urology and oncology." Tolmar CEO Anil D'Souza added that the partnership "aligns with Tolmar's mission to expand innovative therapies in prostate cancer care."
Key terms also include joint responsibility for clinical development in prostate cancer, with Tolmar funding pivotal trials in the U.S. and Alpha Tau retaining rights outside the U.S. for prostate and bladder cancer indications.
This collaboration positions Alpha Tau and Tolmar to reshape the U.S uro-oncology landscape by introducing a novel localized therapy for prostate cancer patients.
DRTS has traded between $2.81 and $11.62 over the past year. The stock closed yesterday's trading at $10.58, up 18.48%. During overnight trading the stock is at $10.50, down 0.76%.
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