Sofie Biosciences Inc

About

Founded in 2008 by co-founders Johannes Czernin, Michael Phelps, and Owen Witte and based in Virginia, US, Sofie Biosciences Inc. develops and manufactures radiopharmaceuticals, the specialized drugs used in PET scans. In January 2024, Trilantic North America agreed to acquire Sofie Biosciences Inc. from Cycad Group, National Institute of Mental Health, Small Business Innovation Research, MRM Capital, Tata Industries, National Cancer Institute, National Institute of Biomedical Imaging and Bioengineering and Jubilant Pharma Limited for USD139.43 million. USD 113.63 million is expected to be received after completion of the deal while the receipt of the balance of USD 25.8 million is contingent upon the achievement of certain future milestones. As of July 2024, the company is led by CEO Patrick Phelps. Sofie Biosciences offers a diverse range of radiopharmaceuticals designed for PET imaging, which are used in the diagnosis and treatment of various critical illnesses. The company’s product portfolio includes innovative PET tracers such as [18F]FAPI-74, which is utilized in clinical trials and diagnostic procedures. Sofie’s pipeline of next-generation radiopharmaceuticals aims to address unmet medical needs and improve the precision of molecular diagnostics. Additionally, the company provides contract manufacturing services, ensuring the reliable production and distribution of high-quality radiopharmaceuticals to its clients. The January 2024 acquisition will help Sofie Biosciences Inc. accelerate its growth and expand its presence.