BWXT Medical Enters into a New Long-Term Agreement with Boston Scientific for the Manufacture of TheraSphere™ Y-90 Glass Microspheres
BWXT Medical Ltd. announced a long-term agreement with Boston Scientific to manufacture TheraSphere™ Y-90 Glass Microspheres, aimed at treating hepatocellular carcinoma (HCC). The deal includes substantial investment to automate production at BWXT's Ottawa facility, enhancing capacity to meet growing demand. This follows Boston Scientific's recent FDA PMA approval of TheraSphere, which increases patient access to this treatment. BWXT cautions that various risks may affect production and demand for TheraSphere.
- New long-term agreement with Boston Scientific for TheraSphere production.
- Investment in automating the Ottawa facility to increase production capacity.
- Risks associated with market demand fluctuations.
- Possible delays in production automation and regulatory approvals.
BWXT Medical Ltd. (BWXT Medical) announced today that it has entered into a new long-term, mutually exclusive agreement to manufacture TheraSphere™ Y-90 Glass Microspheres for Boston Scientific, a leading global medical device company.
Developed for the treatment of patients with hepatocellular carcinoma (HCC), TheraSphere treatment is comprised of millions of glass microspheres containing radioactive Yttrium-90, which are delivered directly to liver tumors via catheter and result in minimal exposure to surrounding healthy tissue.
BWXT Medical is a subsidiary of BWX Technologies, Inc. (NYSE: BWXT) and a global supplier of medical isotopes and radiopharmaceuticals.
Under the terms of the agreement, BWXT Medical will invest to automate the production process at its Ottawa, Canada facility, and thereby significantly increase capacity and dependability to support a growing global demand for TheraSphere.
“We congratulate Boston Scientific on its recent receipt of FDA PMA approval of TheraSphere, which expands patient access to this unique technology,” said Martyn Coombs, president of BWXT Medical. “We share the aspiration of making a significant difference in the lives of people suffering with cancer, and we look forward to continuing to build a strong supply chain foundation for future growth.”
Forward Looking Statements
BWXT cautions that this release contains forward-looking statements, including statements relating to expectations for the production, performance, demand, timing and impact of TheraSphere. These forward-looking statements involve a number of risks and uncertainties, including, among other things, changes in market demand, delays in automation of our production, regulatory approvals and competitive actions. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXT’s annual report on Form 10-K for the year ended December 31, 2020 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXTech and learn more at www.bwxt.com.
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FAQ
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