Blue Earth Diagnostics was founded to develop and commercialise molecular imaging agents, addressing areas of high unmet medical need.
The company’s first approved and commercially available product, Axumin®, is clinically proven to target and image prostate cancer cells. Axumin was reviewed by the US Food and Drug Administration and was granted US regulatory approval in Q2 2016. Marketing authorisation in Europe was granted by the European Medicines Agency in Q2 2017.
Building a profitable company delivering transformational impacts for patients
Sold to Bracco Imaging in 2019 for $476m
£351m of proceeds
83% IRR
9.9x multiple of cost
Blue Earth was established by Syncona in 2014 when Axumin, a PET imaging agent, then in clinical development, was licensed from GE Healthcare
- Set-up with the ambition of building a world-leading prostate cancer imaging company, developing molecular imaging technologies to reliably inform diagnosis and treatment decisions
- In just two years, the company received regulatory approval in the US for Axumin in prostate cancer and the it went onto to achieve pricing reimbursement and a successful commercial launch
- It has had a transformational impact for patients in an area of high unmet medical need:
- In the company’s FALCON trial, 61% of patients undergoing an Axumin scan have had a ‘change in management’ in the way their disease is treated
- 28,000 patients have been treated since the company’s launch
- The company is profitable and has seen continued strong financial performance
Other previous portfolio portfolio companies
