Benzinga | Sep 16, 2021 10:25AM EDT

BWXT Medical, Bayer AG Ink Agreement On Actinium-225

* BWX Technologies Inc's (NYSE:BWXT) subsidiary BWXT Medical Ltd. has agreed with Bayer AG (OTC:BAYRY) to develop Actinium-225 (Ac-225) supply and further partnering opportunities on finished products. The financial terms of the agreement were not disclosed.

* The companies to broaden their respective commercialization strategies for targeted radionuclide therapies (TRTs) and other products.

* Ac-225 is a radioisotope used in targeted alpha therapies (TATs), an emerging class of radionuclide therapy for various tumors with a high unmet medical need.

* Bayer's oncology franchise includes six marketed products, including Xofigo and several other TATs in different stages of development.

* The parties plan to finalize the terms of the commercial agreements at a later date.

* Price Action: BWXT shares traded higher by 1.97% at $55.79 on the last check Thursday.