Telix Pharmaceuticals (ASX: TLX, Nasdaq: TLX) has officially completed its acquisition of Fibroblast Activation Protein (FAP)-targeting radiopharmaceutical candidates, further strengthening its theranostic pipeline in oncology.
This deal, first announced in November 2024, includes a suite of clinically validated FAP-targeting therapeutic and diagnostic candidates, developed by Professor Frank Rösch and his team at the Johannes Gutenberg-Universität Mainz in Germany.
Why FAP Matters in Cancer Treatment
FAP is a key pan-cancer target, highly expressed in the tumor microenvironment of epithelial cancers and certain rare cancers like sarcomas and mesotheliomas. These next-generation FAP-targeting assets offer extended tumor retention while minimizing off-target uptake—an improvement over earlier compounds.
The lead therapeutic candidate, now named TLX400, will be developed as part of Telix’s urology-focused theranostic program, with an initial emphasis on bladder cancer. However, Telix also sees broader applications across multiple solid tumor indications.
A Clinically Validated Approach
The acquired FAP-targeting compounds have already been tested in over 500 patients, with findings published in multiple peer-reviewed journals. Telix’s Chief Executive Officer, Richard Valeix, emphasized the potential impact:
“We believe this technology holds great promise for both imaging and treating tumors. With this acquisition, Telix is focused on leveraging these compounds to build out our urology franchise and explore pan-cancer opportunities, bringing new theranostic solutions to physicians and their patients.”
Deal Terms and Financials
Telix has made an initial cash payment of €5.3 million, following a €700,000 upfront payment, and will pay an additional €4 million over the next 12 months. Additional milestone-based payments of up to €152 million could follow, covering clinical, regulatory, and commercial achievements.
The deal was executed through exclusive agreements with SCV GmbH (led by Professor Rösch) and Medianezia GmbH, which hold the intellectual property rights to these assets. Telix will also pay royalties in the low to mid-single digits on sales of certain licensed products.
Strengthening Telix’s Global Oncology Portfolio
With operations in Australia, the U.S., Canada, Europe, and Japan, Telix continues to expand its portfolio of therapeutic and diagnostic radiopharmaceuticals. This latest acquisition aligns with its mission to address unmet medical needs in oncology and rare diseases, further cementing its position as a leader in theranostic innovation.
