3 March 2021 - - US-based clinical stage radiopharmaceutical therapy company Molecular Targeting Technologies, Inc's Investigational New Drug application has been approved by the US Food and Drug Administration, the company said.

It enables a Phase I clinical study of the Safety and Dosimetry of its lead product, EBTATE (177Lu-DOTA-EB-TATE), in patients with neuroendocrine tumors.

EBTATE is used in Precision Medicine for Targeted Radionuclide Therapy. The key feature of this technology is the appendage of Evans blue to the targeting radiopharmaceutical.

EB binds reversibly to serum albumin to enhance the radiotherapeutic time window with longer circulation half-life and increase tumor uptake/retention to improve therapeutic outcome.

Molecular Targeting Technologies is a privately held, clinical stage biotechnology company, developing targeted radiotherapeutics and diagnostics for rare cancers.

MTTI has received an exclusive worldwide license from the National Institutes of Health to commercialize selected targeted radiopharmaceuticals covered by their Evans blue platform technology patents.

This transformative technology has potential applications for other types of cancer patients overexpressing somatostatin receptor type 2 (SSTR2), such as Hürthle Cell Thyroid Carcinoma.

The company is committed to building value by acquiring and translating innovative imaging, radiopharmaceutical therapy assets to improve human health, reduce healthcare costs and reward stakeholders.

It contracts with ClinSmart as a Clinical Research Organization (Newtown, PA). MTTI expects to orchestrate multiple clinical trials in 2021.