Telix Boosts U.S. Presence with IsoTherapeutics Acquisition

• Telix Pharmaceuticals strengthens its global presence by acquiring Texas-based IsoTherapeutics
• IsoTherapeutics, established in 2005, specialises in radiochemistry
• Telix’s strategic move aims to enhance in-house drug development, reduce costs, and expedite technical milestones through vertical integration of supply chain, manufacturing, and development
• The acquisition expands Telix’s U.S. manufacturing footprint, including a GMP clean room, supporting clinical trials and increasing capacity for processing therapeutic isotopes
• TLX last traded at $10.56 at 10:30am AEDT

Melbourne-based Telix Pharmaceuticals (ASX: TLX) has sealed the deal to acquire IsoTherapeutics Group, a leading radiopharmaceutical development and “bioconjugation” firm headquartered in Angleton, Texas.

Established in 2005, IsoTherapeutics specialises in radiochemistry and “bioconjugation” development, providing crucial services to various companies in the radiopharmaceutical sector – including Telix.

Telix’s move aligns with its ongoing commitment to vertically integrate supply chain, manufacturing, and development capabilities.

The acquisition is poised to significantly bolster Telix’s in-house drug development capabilities, aiming to reduce both cost and time in achieving crucial technical milestones.

The key benefits of the acquisition include expanding Telix’s U.S. manufacturing footprint, equipped with a GMP clean room and production infrastructure suitable for clinical use.

This site will not only facilitate clinical trials but also enhance Telix’s capacity to process a diverse range of therapeutic isotopes crucial for its development portfolio.

“With the agreement to acquire IsoTherapeutics, I am pleased to welcome a team of highly recognized industry leaders in bioconjugation and radiochemistry to Telix, as well as further expand our manufacturing footprint in the U.S.” Telix’s Managing Director and Group CEO, Dr. Christian Behrenbruch said.

IsoTherapeutics will continue to provide development and manufacturing services to existing customers, including Telix’s strategic partners and collaborators.

The acquisition is anticipated to result in potential cost savings, particularly in bringing radiochemistry-related research and development activities in-house.

The purchase price for IsoTherapeutics includes an upfront payment of US$8 million (AU$12.2 million), comprising cash and ordinary shares, along with performance-related milestone payments and a two-year revenue share agreement.

TLX last traded at $10.96 at 10:02am AEDT.