Actinium Pharmaceuticals, Inc. Expands R&D Capabilities with New Research Facility to Enhance Development of Next Generation Antibody Radiation Conjugates Leveraging Its Proprietary AWE Platform PR Newswire NEW YORK, Oct. 14, 2020 NEW YORK, Oct. 14, 2020 /PRNewswire/ -- Actinium Pharmaceuticals, Inc. (NYSE AMERICAN: ATNM) ("Actinium" or the "Company") today announced the launch of its new research and development lab facility in New York City. This new research facility expands Actinium's internal R&D capabilities and will be focused on developing novel Antibody Radiation Conjugate (ARC) candidates, ARC therapeutic combination strategies, and supporting AWE platform research collaborations. Actinium's R&D efforts will employ a multidisciplinary approach leveraging its team's expertise and experience in cancer cell biology, radiochemistry, radiation sciences, immunology and oncology drug development. The proprietary AWE technology platform, protected by over one hundred and twenty-five patents, is the foundation for Actinium's R&D and exploits multiple different radioisotope payloads including the potent alpha-emitter, Actinium-225. (PRNewsfoto/Actinium Pharmaceuticals, Inc.) This new research facility will function under the guidance of Dr. Dale Ludwig, Ph.D. the Company's Chief Scientific & Technology Officer, who has over twenty-five years of oncology discovery research and development experience, including supporting the development and launch of Erbitux®, Cyramza^TM, Portrazza®, and Lartruvo^TM as well as the clinical advancement of at least 10 additional therapeutic antibodies and Antibody Drug Conjugates while at Eli Lilly and, previously, ImClone Systems Inc. The research facility will be managed and staffed by Ph.D. level scientists who will contribute their respective expertise in areas of drug discovery, radiation chemistry, and translational research to advance novel ARC programs and investigations into combination therapeutic strategies. "Our new research facility will allow us to significantly accelerate our preclinical and clinical development of novel ARC programs and investigate mechanistic ARC therapeutic combinations, which utilize our expertise in radioimmunobiology, our AWE Technology Platform capabilities,
ALEXANDRIA, Va. and GRAND RAPIDS, Mich., Oct. 8, 2020 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $55 million senior credit facility and revolving line of credit to SpendMend (or “the Company”), a portfolio company of Sheridan Capital Partners.
The proceeds were used to refinance existing debt, fund the acquisition of Turnkey Pharmacy Solutions (“Turnkey”) and Elevate340B (“Elevate”), and provide ongoing working capital. Oxford Finance is the sole lead arranger and administrative agent in this transaction.
Established in 1993, SpendMend is the leading outsourced provider of cost cycle management services and tech-enabled solutions to the healthcare market. A majority of the nation’s top healthcare systems partner with SpendMend to improve patient care through innovative cost-savings solutions.
“SpendMend is a recognized leader in cost cycle management,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “The Company provides tangible value and bottom-line impact to a complex industry operating on thin margins. The continued growth of these businesses, in spite of the global impacts of COVID, strengthened our conviction and validated the compelling value propositions of these businesses. Oxford is happy to be working with the Sheridan team once again and to now be supporting SpendMend.”
“The acquisition of Turnkey and Elevate broadens our suite of offerings providing compliance, optimization and growth services for the complex and critical 340B programs at health systems,” stated Dan Geehoed, CEO of SpendMend. “Oxford provided a flexible financing solution to support this acquisition and will be a valuable partner to support our continued growth.”
“Oxford was able to deliver a compelling proposal on an expedited timeline and with a high degree of certainty,” added Nick Rowland, principal at Sheridan Capital Partners. “We are pleased