Telix Pharmaceuticals (ASX: TLX; Nasdaq: TLX) is excited to announce a major step in expanding its theranostic pipeline. The company is adding new assets targeting Fibroblast Activation Protein (FAP), a promising pan-cancer target in nuclear medicine. These new assets will initially focus on bladder cancer, strengthening Telix’s urology franchise alongside its advanced programs for kidney and prostate cancers.
What is FAP and Why Does It Matter?
FAP is a protein expressed in the tumor microenvironment of several cancers, including epithelial cancers, sarcomas, and mesotheliomas. Telix’s new program will focus on bladder cancer, but the potential for these compounds to target other cancers is enormous.
FAP-targeting radiopharmaceuticals are an exciting frontier in cancer treatment, as they offer a way to specifically target tumors while minimizing off-target effects. Telix’s new assets come with a promising track record, having been clinically validated in over 500 patients with various solid tumors.
A Strong Partnership
Telix has entered into a licensing agreement and asset purchase agreement with Professor Frank Roesch and his team at the Johannes Gutenberg-Universität Mainz in Germany. These next-generation therapeutic and diagnostic radiopharmaceutical candidates have been extensively preclinically and clinically tested, with promising results.
Telix’s CEO, Richard Valeix, expressed his excitement:
“We’re thrilled to partner with Professor Roesch’s team. These assets are already well-tested and show great promise. Bladder cancer will be our primary focus, but we’re also excited about the potential for these compounds to target a wide range of cancers. This deal is a big step in strengthening our pipeline and expanding our reach.”
Professor Roesch also shared his enthusiasm:
“We’re excited to work with Telix, a leader in radiopharmaceutical development, to bring these promising molecules through to regulatory approval. The goal is to improve outcomes for cancer patients.”
The Deal Details
Telix has agreed to pay €7 million upfront as part of an exclusive worldwide license agreement with SCV GmbH, controlled by Professor Roesch, and an asset purchase agreement with Medianezia GmbH. An additional €3 million will be paid in 12 months.
The deal also includes up to €132 million in milestone payments related to clinical development and regulatory approvals. If certain commercial milestones are met, Telix will pay another €20 million under the license agreement. Royalties will also be paid on net sales of both the diagnostic and early versions of the therapeutic products.
The transaction is expected to close soon but is still subject to regulatory approvals in Germany. Telix cannot guarantee the timing or completion of the deal.
About Telix Pharmaceuticals
Telix Pharmaceuticals is an Australian biopharmaceutical company focused on developing and commercializing therapeutic and diagnostic radiopharmaceuticals. The company addresses significant unmet medical needs in oncology and rare diseases.
Telix is listed on both the Australian Securities Exchange (ASX: TLX) and Nasdaq (Nasdaq: TLX), with a growing international presence in the U.S., Europe, and Japan.
Telix’s lead product, Illuccix® (gallium-68 gozetotide injection), is an imaging agent used for detecting prostate cancer. Illuccix® has been approved by the U.S. FDA, the Australian Therapeutic Goods Administration (TGA), and Health Canada. While no other Telix products have received marketing approval yet, the company’s pipeline continues to show immense potential.
