On Target · Issue 9•Week Ending September 18, 2026

Two FDA Approvals and a $1 Billion Bet on Manufacturing

PSMA PET & Theranostics IntelligenceSupply Integration18 primary sources

Diana’s opening noteThis week gave us a rare split screen: two competing companies won FDA approvals for entirely new products on the very same day, while a third moved to buy its way into the manufacturing side of the business. I don’t think that’s a coincidence. The companies doing best right now are the ones building on more than one front at once, and that has real implications for how you plan your own program’s vendor relationships going into next year.

Editor’s Spotlight

On September 14, the FDA approved both Telix’s Pixclara, the first FET-PET agent for glioma imaging, and Curium’s Bexlutry, Curium’s first-ever approved radioligand therapy. Neither is a PSMA product, but both show the same pattern: companies built on one PSMA-targeted product are actively diversifying into adjacent diagnostic and therapeutic indications. That expansion landed the same week GE HealthCare moved toward a roughly $1 billion acquisition of PET radiopharmaceutical manufacturer Sofie Biosciences — a reminder that platform breadth means little without secured production and supply behind it.

Story of the Week

GE HealthCare is in advanced talks to acquire Sofie Biosciences for about $1 billion, the Financial Times reported September 13 via Reuters, with an announcement possibly coming within days. Sofie makes the radioactive chemicals used in PET cancer scans, and the deal would be GE HealthCare’s second major acquisition since its 2024 split from General Electric. Neither company has confirmed terms, but the strategic logic is clear: owning radiopharmaceutical manufacturing turns single-scan sales into a recurring revenue stream, and it gives GE HealthCare more control over the supply chain feeding its imaging equipment business at a moment when several competitors are making similar bets.

Clinical News

A JNM study of 63 men with PI-RADS 2-3 mpMRI findings (the FUPERMAN study) found that PSMA PET/CT-targeted biopsy improved detection of clinically significant prostate cancer compared with systematic biopsy alone in men whose conventional MRI was negative or equivocal, and explored dynamic total-body PET parameters as additional predictors — useful evidence for programs deciding when PSMA PET adds value ahead of a first biopsy.

A separate JNM analysis documented real-world disparities in PSMA PET/CT and 177Lu-PSMA therapy access between centers in Brazil and Europe, a reminder that regulatory approvals and reimbursement wins in the U.S. and EU don’t automatically translate into equitable global access to the same technology.

A third JNM study found that adding 18F-FDG PET to 68Ga-PSMA-11 PET before 177Lu-PSMA-617 therapy improved prognostic accuracy in metastatic castration-resistant prostate cancer, helping identify which patients are most likely to benefit from radioligand therapy before treatment begins.

Business & Industry Intelligence

Curium announced FDA approval of Bexlutry (lutetium Lu 177 dotatate) for SSTR-positive gastroenteropancreatic neuroendocrine tumors on September 14 — its first FDA-approved radioligand therapy, arriving via the 505(b)(2) pathway using Lutathera as the reference product, and coming just weeks after Curium’s agreement to acquire Lantheus in a deal worth up to $8 billion.

The FDA also approved Telix’s Pixclara (18F-FET) on September 14, the first FET-PET imaging agent approved for glioma, giving physicians a new tool to differentiate recurrent or progressive brain cancer from treatment-related change — and giving Telix an approved product line outside its core PSMA-targeted prostate imaging business ahead of its September 22 R&D Day.

Practice insightPressure-test single-vendor radiopharmacy assumptions before Q4 planning closes.With GE HealthCare, Curium, and Telix all moving to broaden supply and indications in the same week, confirm with your radiopharmacy or CDMO partner exactly what capacity and delivery commitments extend through Q1 2027 before you finalize next year’s volume and staffing assumptions. If your primary PSMA agent’s manufacturer is party to a pending acquisition, ask now what happens to your supply agreement if it closes.

Clinical Trials to Watch

PSMAddition / Novartis — basis for the July 31 FDA approval of Pluvicto plus an ARPI in PSMA-positive mHSPC; updated survival follow-up continues.

ProstACT Global / Telix (TLX591-Tx) — Phase 3 radio-antibody-drug conjugate plus standard of care vs. standard of care alone in mCRPC; Part 2 U.S. enrollment advancing after FDA alignment.

AlphaBreak / Fusion Pharmaceuticals (FPI-2265) — active alpha-emitter PSMA-targeted trial in mCRPC continues enrollment.

177Lu-NYM032 / Norroy Bioscience — pivotal Phase 3 PSMA radioligand therapy trial, cleared by China’s NMPA, now dosing patients.

Industry Movers & News in Brief

Telix named David Gill Chair of the Board effective September 1, succeeding interim chair Dr. Mark Nelson; Gill brings 35-plus years of biopharma and radiopharmaceutical manufacturing and supply-chain leadership.

Clarity Pharmaceuticals posted a wider FY2026 net loss of $107.2 million on August 27, even as its SECuRE Cu-67 SAR-bisPSMA dose-escalation study logged two more complete responses at the 8 GBq level.

Actinium Pharmaceuticals presented at the H.C. Wainwright 28th Annual Global Investment Conference on September 14, with CEO Sandesh Seth briefing investors on its targeted radiotherapy pipeline.

Perspective Therapeutics reported roughly $237 million in cash (runway into late 2027) and will present updated VMT-alpha-NET neuroendocrine tumor data at ESMO on October 23.

Upcoming events: Telix R&D Day September 22, New York, NY; ASTRO 2026 Annual Meeting September 26–30, Boston, MA; EANM’26 Annual Congress October 17–21, Vienna, Austria; and the SNMMI Theranostics Conference November 4–7, Bethesda, MD, with early-bird registration closing September 29.

Diana’s takeThe real story this week isn’t any single approval — it’s that PSMA-adjacent players are diversifying in two directions at once: forward into new indications, as with Telix’s brain-imaging clearance and Curium’s first radioligand therapy, and backward into manufacturing and supply security, as GE HealthCare’s radiopharmaceutical shopping shows. Programs that built their theranostics service line around one drug, one vendor, and one payer pathway should use Q4 planning to stress-test that assumption against a market actively consolidating both ends of the supply chain.

About the author
Diana J. Errico is Director, Strategic Service Lines at Molecular Imaging Services. She focuses on helping healthcare organizations evaluate, implement, and grow advanced molecular imaging, PET/CT, PSMA PET, and theranostics programs through strategic planning, clinical workflow development, and operational support.

If we missed your news or data requires correction, the author can be reached at info@mismedical.com.

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This newsletter is for informational and educational purposes only and does not constitute medical, legal, investment, or reimbursement advice. Readers should consult their own professional advisors for specific guidance.