Key Highlights:
- Telix Pharmaceuticals (ASX:TLX; Nasdaq:TLX) has expanded its theranostic pipeline to include FAP-targeting assets.
- The initial focus will be on bladder cancer, complementing Telix’s existing urology franchise, which includes kidney and prostate cancer programs.
- Telix has secured exclusive worldwide licenses and an asset purchase agreement for clinically validated FAP-targeting radiopharmaceuticals developed by Professor Frank Roesch and his team at Johannes Gutenberg-Universität Mainz.
- These next-gen compounds have demonstrated extended tumor retention and minimized off-target uptake, showing promise across a range of solid tumors.
Melbourne, Australia – 19 November 2024 – Telix Pharmaceuticals Limited (ASX:TLX; Nasdaq:TLX) is making major strides in the development of FAP-targeting therapeutics with a new suite of assets aimed at Fibroblast Activation Protein (FAP), a promising pan-cancer target in nuclear medicine. The company will initially focus on bladder cancer, rounding out its existing programs targeting kidney and prostate cancers in its urology portfolio.
Why FAP?
FAP is expressed in the tumor microenvironment of epithelial cancers, including sarcomas and mesotheliomas. The assets licensed from Professor Frank Roesch and his collaborators have shown clinical validation in over 500 patients and are poised to advance the next wave of radiopharmaceutical treatments.
What’s New?
Telix’s partnership with Professor Roesch and his team means access to de-risked assets with clinically demonstrated safety and efficacy. The company plans to further develop these FAP inhibitors in bladder cancer and explore their potential across various cancers, boosting the value of its growing pipeline.
Richard Valeix, CEO of Telix Pharmaceuticals, said, “This collaboration with Professor Roesch’s team is a key milestone for Telix. These assets are already de-risked and we are excited to begin developing them in bladder cancer. This is an important step as we explore the full potential of FAP as a pan-cancer target.”
Deal Terms
Telix has signed an exclusive worldwide license with SCV GmbH and an asset purchase agreement with Medianezia GmbH to acquire intellectual property for the FAP-targeting assets. The deal includes:
- €7 million cash payment upon closing (with €700,000 paid at the time of signing).
- An additional €3 million in 12 months, contingent upon certain conditions.
- Up to €132 million in milestone payments based on clinical development and regulatory achievements.
- €20 million in commercial milestones related to the diagnostic product, along with royalties on net sales.
The closing of these agreements is expected to occur once customary conditions are met, including patent assignments and approval from Germany’s Ministry for Economic Affairs and Climate Action.
