AAA Grows Business In Europe
Advanced Accelerator Applications (AAA) has strengthened its position in Spain and Portugal with the recent acquisition of two radiopharmaceutical companies in Barcelona: Barnatron, a manufacturer and distributor of positron emission tomography (PET) products; and Catalana De DispensaciÃ³n, a manufacturer and supplier of products for single PET to hospitals in Spain. It also acquired a fully operational PET radio pharmaceutical production laboratory in Porto, which is the only facility authorised to produce FDG, in Portugal.
AAA has also established a direct presence in new markets. In March 2012, it acquired a majority stake in Umbra Medical, a German radiopharmaceutical company. In January 2013, AAA entered the Polish market following the signing of a long-term collaboration agreement with the University of Warsaw.
The company recently completed a capital increase of EUR 4.8 million, to help fund expansion plans and finance clinical trials of its portfolio of radio metabolic therapy and diagnostic products. This was the first tranche of financing that AAA is raising from 10 million new shares that the company authorised to be issued on 8th March 2013.
In May 2013, the company signed a non-exclusive manufacturing and service agreement for AAA to supply Eli Lilly's Amyvid (florbetapir [18F]) solution for injection in France, Italy and Spain. Amyvid is the first and only product of its kind to receive marketing authorisation from the EC as a radioactive diagnostic agent indicated for PET imaging of beta-amyloid neuritic plaque density in the brains of adult patients with cognitive impairment, who are being evaluated for Alzheimer's disease and other causes of cognitive impairment.