INSTITUTO TECNOLÓGICO PET

Based in Madrid, all 100% of the shares in ITP, PET Technological Institute, are in Spanish hands. It is currently the only radiopharmaceutical laboratory in Spain which vertically integrates the production, marketing and distribution of the FDG-18 isotope used to diagnose and monitor cancer. ITP also has a cancer imaging diagnostic division equipped with a PET/CAT camera, located in the MD Anderson International Hospital in Madrid.†

PET Technological Institute was established in 1994 in close collaboration with Madrid's Complutense University, an event marked by the unveiling of Spain's first cyclotron. Since then, ITP has been a pioneer in developing PET technology both in so far as the production of radiopharmaceuticals is concerned, and in the area of diagnostics.

We now have a second cyclotron in Madrid, with which we have multiplied by four our production capacity to thereby service the growing demands of our customers in Spain, and of PET/CAT diagnostic units in both public and private hospitals. PET/CAT diagnostics are growing annually at a rate of 21%, in our country. In ITP we are focusing our R&D&I investment on the laboratory area, to develop new PET diagnostic tracers, in collaboration with research groups from Madrid's Complutense University and the University of Alcala.

The company has 44 direct and 40 indirect employees.

PET Technological Institute produces and markets the radiopharmaceutical FDG-18 both for its own use and for public and private diagnostic companies. With only one cyclotron, it serviced until now all the daily needs of 19 hospitals in nine Autonomous Communities and of the 7 Portuguese hospitals which possess diagnostic units. ITP has a domestic market share of 34% and 88% in the Portuguese market.

Radiotracers or radiopharmaceuticals cannot be stored: they have a very short life cycle or expiry period. As far as the isotopes that ITP produces are concerned, their expiry period is 12 hours, 20% more than the rest of the market. Because of this, and in response to growing demand from the diagnostics market and to research needs, PET Technological Institute has invested eight million Euros in the installation of a second cyclotron in Madrid. Having inaugurated this second cyclotron, ITP:

a) Multiplies by four its capacity to supply radiopharmaceuticals throughout the Iberian Peninsula.
b) Can attend the needs of all units which have been inaugurated in the public hospitals of the Community of Madrid with the same level of efficiency as at present, which is 99.6%.
c) Will invest more resources to R&D&I, in collaboration with the Complutense University and other research groups, and will attend to the needs of the CENIT project.
d) Will develop new radiopharmaceuticals.