Ariceum Therapeutics, a Berlin-based start-up on the Biocampus Berlin-Buch, announces the acquisition of Theragnostics Ltd, a private UK-based biopharmaceutical company engaged in the development of radiolabeled PARP inhibitors for the diagnosis and treatment of tumors.

The Berlin-based startup Ariceum Therapeutics raised the money to acquire Theragnostics Ltd. in notable rounds of financing, including a recent Series A financing that doubled to €48 million. With Theragnostics Ltd, the Berliners are buying a development pipeline of radiolabeled PARP inhibitors for the diagnosis and treatment of tumors, but are also receiving NEPHROSCANTM, a diagnostic product in partnership with GE Healthcare that is approved by the U.S. Food and Drug Administration (FDA).

The purchase of the U.K.-based company with a diagnostic-approved product is comparatively inexpensive, with Ariceum acquiring 100% of Theragnostics' stock in exchange for an upfront cash payment of $2.5 million and milestone payments totaling up to $41.5 million.

Manfred Rüdiger, PhD, Chief Executive Officer of Ariceum Therapeutics, said: “We are delighted to welcome Theragnostics’ expert radiopharmaceutical team to Ariceum and to integrate its innovative products into our proprietary pipeline through this acquisition.

Greg Mullen, former Chief Executive Officer of Theragnostics joins Ariceum Therapeutics as the newly appointed Chief Operating Officer and commented, “The acquisition by Ariceum Therapeutics is an exciting opportunity for Theragnostics and we are delighted to be part of a world-leading and innovative radiopharmaceutical company, ensuring the rapid clinical development of PARP inhibitor Auger therapy.”