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Update regarding Life Molecular Imaging following the approval of Biogen’s aducanumab
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2003/002733/06
Income tax number: 9387/307/15/1
ISIN: ZAE000145892
Share code: LHC
("Life Healthcare" or "the Company" or "the Group")
8 June 2021
Update regarding Life Molecular Imaging following the approval of Biogen’s aducanumab
Life Healthcare welcomes the US Food and Drug Administration’s (FDA) decision, announced on 7 June
2021, to grant accelerated approval of aducanumab for the treatment of Alzheimer’s disease. This
decision is significant, given that c.35 million people suffer from Alzheimer’s disease globally.
Continued approval relies on the demonstration of clinical benefit in confirmatory trials.
Aducanumab has been shown to reduce amyloid beta plaques in the brain which is likely to slow
neurodegeneration and disease progression. It is the first drug approved to treat Alzheimer’s disease
in 20 years.
This approval marks an exciting moment in Life Molecular Imaging’s (LMI) journey from the a research
and development arm within the Bayer Pharma AG’s laboratories, to the work continued by the
Piramal family over the past 20 years ago.
Before achieving EBITDA breakeven in 2020, over $400 million had been invested in this business to
research, and develop, a pipeline of radioisotope tracers to assist with the diagnosis of various
diseases. One such tracer, LMI’s FDA-approved Beta amyloid imaging tracer NeuraCeq®, is used to
diagnose Alzheimer’s disease by highlighting the Beta amyloid deposits in the brain. Aducanumab’s
approval yesterday paves the way for LMI to become an integral part of the diagnostic pathway, prior
to patients starting treatment for Alzheimer’s disease.
“At Life Healthcare, our purpose is making life better - for patients and our people. As we expand
and grow our business into new markets, our purpose will become increasingly important to
more people in more geographies. Having a part to play in improving the lives of Alzheimer’s
patients and bringing hope to them and their families is significant and aligned to our purpose.
It’s about making life better for all,” says Peter Wharton-Hood, Group Chief Executive for Life
Healthcare.
LMI has the capability to manufacturer NeuraCeq® through its wholly-owned cyclotrons across
Europe. In partnerships with cyclotron operators, LMI will also scale up investment to bolster its
manufacturing capacity for NeuraCeq® whilst also enhancing its sales, marketing and distribution
capabilities.
This is also an exciting moment for LMI’s parent company, Alliance Medical Group (AMG), one of the
largest diagnostic imaging groups within Europe. AMG is well placed to assist patients undergoing
diagnostic testing for Alzheimer’s disease through its network of PET-CT scanners. In addition, AMG
can assist with the MRI scans that patients on aducanumab may need as part of the monitoring of
their treatment.
LMI and AMG are delighted to be able to leverage their vertically integrated business models to assist
with the diagnostic and subsequent treatment pathway to patients with cognitive illnesses.
At this stage, the financial impact of the FDA approval is uncertain due to a numbers of factors.
Shareholders will be kept updated as and when further clarity is obtained.
About Life Healthcare Group
Life Healthcare Group is a global, people-centred, diversified healthcare organisation with over 33
years’ experience in the South African private healthcare sector, currently operating 66 healthcare
facilities in southern Africa. Services include acute hospital care, acute physical rehabilitation, acute
mental healthcare, renal dialysis, and employee health and wellness services. The Group owns Alliance
Medical Group, the leading independent provider of medical imaging services within Europe. Visit
www.lifehealthcare.co.za
About Life Molecular Imaging
Life Molecular Imaging (LMI, formerly Piramal Imaging) was formed in 2012 with the acquisition of the
molecular imaging research and development portfolio of Bayer Pharma AG. It is now part of the
Alliance Medical Group (a member of the Life Healthcare Group) offering an integrated business
including research and development laboratories, a network of cyclotrons, radiopharmacies and
imaging facilities. By developing novel PET tracers for molecular imaging, LMI is focusing on a key field
of modern medicine. The organization strives to be a leader in the Molecular Imaging field by
developing innovative products that improve early detection and characterization of chronic and life-
threatening diseases, leading to better therapeutic outcomes and improved quality of life. Visit
https://life-mi.com.
About Alliance Medical Group
Alliance Medical is a leading diagnostic imaging services provider in the United Kingdom and western
Europe. The Group combines service excellence and innovative imaging technologies to improve
patient care and support public and private healthcare organisations with their medical imaging
requirements. Alliance Medical offers an integrated diagnostic imaging business that includes
research and development laboratories, a network of cyclotrons and imaging facilities, which are
revolutionising our approach to diagnosis and treatment of a range of conditions, such as Alzheimer’s
disease, dementia/ neurodegeneration, oncology and cardiovascular disease. Visit
www.alliancemedical.com
For further information, please contact:
Mark Wadley, Head of Investor Relations
investor.relations@lifehealthcare.co.za
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08-06-2021 12:25:00
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