Telix Pharmaceuticals Limited (TLPPF), a biopharmaceutical company on Friday, announced the completion of its acquisition of next-generation therapeutic assets and an innovative biologics technology platform from antibody engineering company ImaginAb, Inc.
Under the terms of the acquisition, Telix has acquired a pipeline of promising drug candidates targeting validated cancer biomarkers such as DLL32 and integrin avß6, as well as early-stage agents focused on novel targets.
The acquired platform includes small, engineered antibody formats designed to enhance the specific targeting of cancer with radiation, offering potential for imaging and treatment with a range of radioisotopes, especially alpha emitters.
The acquisition also provides Telix with access to ImaginAb's protein engineering and discovery research capabilities, which will complement its existing R&D efforts.
This deal strengthens Telix's ability to expand its theranostic radiopharmaceutical pipeline, accelerating its development of precision therapies for cancer.
"We are excited to integrate ImaginAb's innovative technology and talented team into Telix," said Dr. Michael Wheatcroft, Chief Scientist at Telix. "This acquisition significantly enhances our R&D capabilities and positions us to create the next generation of radiopharmaceuticals."
The deal included a $45 million upfront payment, with additional potential milestone payments of up to $185 million, depending on development and commercialization progress.
Telix aims to leverage this acquisition to drive forward its mission to address unmet clinical needs in oncology with next-generation theranostics.
TLPPF closed Thursday's (Jan.30 2025) trading at $18.20 down by 1.62%.
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