CANBERA (dpa-AFX) - Telix Pharmaceuticals Limited (TLX, TLX.AX) and Regeneron Pharmaceuticals, Inc. (REGN) have announced a collaboration to jointly develop and commercialize next-generation radiopharmaceutical therapies. This partnership brings together Telix's radiopharmaceutical development platform, global manufacturing capabilities, and supply chain infrastructure with Regeneron's biologics expertise, including bispecific antibody discovery. The collaboration will focus on multiple solid tumor targets from Regeneron's antibody portfolio, generated using VelocImmune mice. In addition, both companies plan to develop radio-diagnostics to aid patient selection and treatment response assessment, reinforcing their shared commitment to precision oncology.
Under the terms of the agreement, Telix will receive an upfront cash payment of US$40 million from Regeneron for access to its radiopharmaceutical manufacturing platform, covering four initial therapeutic programs. Regeneron also retains the option to expand the collaboration to include four additional programs, with further upfront payments. The companies will share equally in global commercialization costs and potential profits, while Telix retains the option to co-promote certain products.
If Telix chooses to opt out of the co-funding model for a specific program, it will instead be eligible to receive up to US$535 million in development and commercial milestone payments, along with low double-digit royalties on future net sales for that program. Additionally, Telix and Regeneron will jointly develop diagnostic assets, with Telix leading commercialization and Regeneron receiving a set percentage of profits.
TLX.AX was trading at A$15.87 up A$1.23 or 8.40%.
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