Eckert & Ziegler to Start Development of Radioisotope Production Facility in Jintan, PR China
Eckert & Ziegler, a global specialist for radioactive medical and industrial applications based in Berlin, Germany, has signed an investment agreement with the Administrative Committee of Jiangsu Jintan Economic Development Zone (PR China) for the acquisition and commercial development of 13.300 square meters of industrial-use land. Provided that Eckert & Ziegler successfully completes the public bidding process, the site will be wholly owned by a 100% subsidiary of Eckert & Ziegler. Subject to governmental and regulatory approval in China, it will house various radiopharmaceutical and radioisotope production suites and Eckert & Ziegler’s administrative headquarter for the greater China area. At a later stage, it will also serve as the operational basis for maintenance crews and Eckert & Ziegler’s different technical divisions. Radiopharmaceutical infrastructure for third party lease-in may be available, too.
Construction on the premises is anticipated to start this year. The completion of the building and the operational readiness of the various suites will happen in stages. Total investment volume until 2027, including land, buildings, technical equipment, and intangible assets may add up to 50 million Euros. If the process develops as envisaged, the facility is supposed to handle and manufacture a broad range of radioactive pharmaceutical and industrial products in its final stage. Eckert & Ziegler will be able to fund the development of the site through its regular cash-flow.
“The health system in China has made tremendous advances during the last decades”, explains Andreas Eckert, Founder and CEO of Eckert & Ziegler. “Innovative therapies for the treatment of cancer are more and more available now also to Chinese patients. As strategic supplier to many international oncology companies, Eckert & Ziegler needs to be present in China with its own broadly licensed radiation facility and a strong local team. The investment agreement executed with Jintan will bring us closer to this important objective”.
Check out the full press release here.