Agilera is a spin-off from IFE and one of the only two independent companies in the world to produce commercial radiopharmaceutical therapies for cancer treatment. PharmaLogic is a leading contract development and manufacturing organization (CDMO) specialized in radiopharmaceuticals.
Through this acquisition, PharmaLogic partners with IFE to establish its European manufacturing footprint in Norway and tackle the $10bn market for radiopharmaceutical therapeutics. Norway is a global innovation hub within radiopharmaceuticals, with a dynamic healthcare sector driven by a combination of world-class research institutions, government support, and an active biotech industry. The country’s focus on nuclear medicine and theranostics – where diagnostic imaging is combined with targeted radiotherapy – has positioned Norway as a key player in the global radiopharmaceutical market. This transaction will build on Norway’s strong position within radiopharmaceuticals and further strengthen radiopharmacy as a Norwegian export industry.
“For IFE, the sale of a majority stake in Agilera marks a significant achievement as the largest commercialization effort carried out from the institute to date. As a leading research institute, IFE is committed to innovation and job creation and has played a key role in the development and manufacturing of radiopharmaceutical therapeutics through Agilera. The entry of PharmaLogic as a new majority shareholder in Agilera will enable rapid scale-up, growth and development of Agilera’s operations to meet the increased demand for radiopharmaceutical therapeutics globally,” said Nils Morten Huseby, President of IFE.
IFE’s strategy is to contribute to value creation in society through research, innovation and commercialization. In recent years, IFE has invested NOK 150 million and created 140 new jobs at Kjeller through the development of Agilera as a leading radiopharmaceutical company. Together, PharmaLogic and Agilera will create a comprehensive CDMO platform for radiopharmaceuticals that will provide global access to innovation that is critical to improving cancer treatment.
Under the terms of the agreement, Agilera will complement PharmaLogic’s existing manufacturing platform for therapeutics, enhancing the company’s ability to deliver world-class radiopharmaceutical solutions. Through the acquisition, PharmaLogic can accelerate the development of its CDMO activities and establish a presence in Europe. This will increase production and distribution capacity both in Europe and the US.
“We’re thrilled to partner with IFE for expanding the capabilities of Agilera and to build a best-in-class manufacturing platform for radiopharmaceutical therapeutics with global reach. By combining our capabilities and deploying capital, we will be able to solidify Agilera’s position as the leading therapeutic CDMO for radiopharmaceuticals,” said Etienne Montagut, President of PharmaLogic. “We’re looking forward to working together with IFE and the Agilera team to drive enhanced access to radiotherapeutics for patients worldwide.”
PharmaLogic is committed to investing in the expansion of Agilera’s CDMO-capabilities, strengthen its infrastructure, and scale its manufacturing footprint to meet rising global demand for radiopharmaceutical therapeutics. This will secure the 140 jobs at Agilera and provide a basis for establishing more jobs in the years ahead. These are jobs that require a high level of expertise and have high value creation for society.
“The partnership between Agilera and PharmaLogic will make us an attractive CDMO for the pharmaceutical industry in Europe and the US. The global market outlook for radiopharmaceuticals is very good. Norway has a unique opportunity in and around Oslo Cancer Cluster and Agilera’s development and production expertise, to develop a large global export industry. This is in line with the government’s ambitions to significantly increase Norwegian export from the health industry,” said Erik Flatmark, CEO of Agilera.
Closing of the transaction is subject to customary conditions, including regulatory approvals, license transfers and certain third-party consents. The acquisition is expected to close later in 2025. IFE has been advised by investment bank ABG Sundal Collier and law firm Selmer in the transaction.
About
About IFE:
IFE was established in 1948 to conduct research on nuclear energy and has built and operated four experimental reactors at Kjeller and in Halden. IFE was a frontrunner and started with radiopharmaceutical activities as early as 1952 at the research reactor JEEP I at Kjeller. In the 1960s, IFE offered 28 individual radioactive isotopes for use in diagnostics and treatment and was particularly known for its labeling technology. During the 1980s and 90s, IFE exported its production technology to several countries. IFE was a key player in the introduction of PET technology in Norway, which has been of great importance for the diagnosis of cancer. Over the past 10 years, IFE has developed the radiopharmaceutical activities to become a successful contract development and manufacturing organization with a global footprint. In 2023, IFE spun off the radiopharmaceutical business into a newly created subsidiary, Agilera Pharma AS.
About PharmaLogic Holdings Corp.
PharmaLogic is a world-class contract development and manufacturing organization specializing in novel diagnostic imaging and therapeutic radiopharmaceuticals for the treatment of cancers and other malignancies. In addition to an established and reliable network of radiopharmacies, PharmaLogic has decades of expertise in drug development from discovery, through manufacturing and commercialization. The Company seeks to take the lead in the advancement of radiopharmaceutical technology for the benefit of patients worldwide. For more information, visit: radiopharmacy.com and follow us on LinkedIn.
About Agilera Pharma AS:
Agilera Pharma AS was established as a subsidiary of IFE in 2023 with 140 employees as part of their organization. Agilera has three business areas:
- CDMO: Development partner for innovative radiopharmaceuticals from early phase to clinical production, tailored to customer needs.
- CMO: Commercial production and distribution. Permits from the Norwegian Medicines Agency and GMP certified.
- Wholesaler and distribution: Agilera is the national wholesaler of radiopharmaceuticals in Norway. Agilera has a central pharmacy function for radiopharmaceuticals and a logistics centre that distributes radiopharmaceuticals throughout Norway and globally.
Contact persons
Silje Aspholm Hole, Director of communication IFE, +47 930 22 096 (cell)
Nils Morten Huseby, President, IFE, +47 905 44 545 (cell)
Erik Flatmark, CEO Agilera Pharma AS, +47 902 09 400 (cell)
Taylor Prejna, Global Head of Corporate Communications PharmaLogic, +1 571 595 8258 (cell)
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