The financing round comprises mainly primary capital and a minority transaction of secondary shares. It is one of the largest private biotechnology financing rounds by global investors ever seen in Europe. The proceeds will enhance ITM's radiopharmaceutical pipeline, strengthen commercial infrastructure, expand leading manufacturing capabilities and enable strategic initiatives.

ITM was advised on the transaction by the Private Equity & Venture Capital team from Reed Smith's Munich office, led by partner Dr Justus Binder, with support from partner Dr Michaela Westrup (antitrust law), counsel Judith Becker, associate Elisa Sailer (labor law), associate Sebastian Bitter (antitrust) and associate Robert Werzlau (private equity/venture capital).

In-house counsel for ITM was General Counsel Marc Scharrer. Temasek was advised by Dr Christian Vogel and Yannick Niedergethmann of Clifford Chance in Düsseldorf and BlackRock was advised by Dallan Pitman and Florence Fry of Ashurst in London.

Binder, who has more than 20 years of experience regarding all types of private equity & venture capital transactions as well as domestic and cross-border M&A transactions, commented: "The current financing round is a great win for ITM, the further development of important medical products and the safeguarding of jobs. Equally, it is a success for Germany as a biotech location as a whole, which occupies a leading position in the world and will certainly become even more important in the future. We are pleased that our team was able to successfully support ITM in this transaction, not only through our many years of private equity & venture capital experience, but also through our expertise in this important biotech market."

ITM is a long-standing client of Reed Smith and Binder. Most recently, he advised the biotech company on the €25 million investment by Grand Pharmaceutical Group (2022) and the €90 million convertible bond led by Petrichor Healthcare Capital Management (2021), which has now been converted into equity. The conversion of ITM from a stock corporation into an SE (Societas Europaea) was also led by Reed Smith Reed Smith and Binder.