Benzinga | Mar 23, 2021 07:34AM EDT

Plus Therapeutics Enters Into Master Services Agreement With Piramal Pharma Solutions; Financial Details Not Disclosed

Plus Therapeutics, Inc. (Nasdaq: PSTV) (the "Company"), a clinical-stage pharmaceutical company developing novel, targeted therapies for rare and difficult to treat cancers, today announced that it has entered into a master services agreement (MSA) with Piramal Pharma Solutions (PPS) for the development, manufacture, and supply of Plus' Rhenium NanoLiposome (RNL(tm)) intermediate drug product.



The MSA includes the transfer of analytical methods, development of microbiological methods, process transfer and optimization, intermediate drug product manufacturing and stability studies. The transfer will be performed at PPS's drug product facility in Lexington, Kentucky. Plus anticipates that the MSA will lead to clinical and commercial supply agreements for the drug product at the appropriate stage of development.

PPS's Lexington site is recognized as a North American leader in formulation development and manufacture of sterile parenteral drug products.

"This agreement represents another significant milestone for Plus as we work to advance development of RNL as a novel treatment option for patients diagnosed with glioblastoma," said Marc Hedrick M.D., President and Chief Executive Officer of Plus Therapeutics. "The team at PPS has the knowledge, experience and expertise to support our needs, both now and in the future as we advance RNL towards regulatory approval."

"We are thrilled to enter into this agreement with Plus Therapeutics," said Peter DeYoung, Chief Executive Officer of Piramal Pharma Solutions. "Our expectation is that this MSA represents the start of a long, mutually beneficial relationship that will address our ultimate collective objective of reducing the burden of disease on patients."