Telix Pharmaceuticals Strengthens Innovation with Strategic Acquisition of ImaginAb Assets

About Telix Pharmaceuticals

Telix Pharmaceuticals (ASX: TLX), headquartered in Melbourne, Australia, is a biopharmaceutical company specialising in therapeutic and diagnostic radiopharmaceuticals and related medical technologies. With operations across the US, Canada, Europe, and Japan, Telix develops clinical and commercial-stage products targeting significant unmet medical needs in oncology and rare diseases. Its innovative radiopharmaceuticals use radioactive isotopes paired with targeting agents to deliver precise radiation doses to diseased cells while minimising damage to healthy tissues. Telix is advancing precision care by offering imaging and therapeutic solutions that enhance treatment efficacy and patient outcomes.

Strategic Acquisition Unlocks Growth Opportunities

Telix Pharmaceuticals has taken a significant step forward in advancing its innovation capabilities with the acquisition of assets from antibody engineering company ImaginAb, Inc. The agreement encompasses a pipeline of next-generation therapeutic candidates, a proprietary biologics technology platform, and a state-of-the-art protein engineering research facility in California. These assets will bolster Telix’s capacity to explore new disease areas and enhance its existing pipeline of radiopharmaceuticals.

The acquired drug candidates focus on high-value targets such as Delta-like ligand 3 (DLL3) and integrin αvβ6, which are associated with conditions like high-grade neuroendocrine tumours, small cell lung cancer, and wound healing in cancer. This acquisition positions Telix to address unmet clinical needs with advanced precision therapies that combine fast tumour targeting with minimal off-target exposure. Furthermore, the biologics platform offers the potential for innovative applications in both imaging and therapeutic radiopharmaceuticals using a broad range of radioisotopes, particularly alpha emitters.

With the addition of ImaginAb’s assets, Telix gains access to cutting-edge antibody engineering and discovery research capabilities. The acquired research facility in California is staffed by experts in protein engineering and radiopharmaceutical development, providing Telix with in-house resources to advance its preclinical and clinical-stage products.

The integration of ImaginAb’s novel biologics technology platform enables Telix to expand beyond its current pipeline and explore new therapeutic areas with unmet clinical needs. The platform’s small, engineered antibody formats facilitate highly specific cancer targeting, rapid tumour uptake, and efficient blood clearance. This technology is particularly suited for use with alpha-emitting isotopes, which offer promising applications in both imaging and treatment.

Strengthening Financial Performance and Position

The acquisition underscores Telix’s commitment to long-term growth while maintaining a balanced financial strategy. The total purchase price is US$45 million (AU$73 million), comprising US$10 million in cash and US$31 million in equity at closing. A deferred payment of up to US$4 million in equity is contingent on the conclusion of a 15-month indemnity period. Additional payments of up to US$185 million (AU$299 million) are tied to achieving specific development and commercial milestones, with royalties on net sales in the low single digits applicable to a limited number of products.

Telix plans to issue ordinary shares to ImaginAb within its existing placement capacity under Listing Rule 7.1. The upfront equity consideration will be subject to voluntary escrow, with equal tranches being released at 60, 90, and 120 days post-closing. These structured payments demonstrate Telix’s prudent approach to integrating the acquisition without overextending its financial resources.

The acquisition also aligns with Telix’s strong financial performance, supported by its robust pipeline and commercial success in the radiopharmaceutical sector. The deal is expected to strengthen the company’s position as a leading innovator in precision medicine and drive future revenue growth.

Future Outlook and Strategic Vision

The acquisition aligns with Telix’s strategic vision to become a global leader in precision radiopharmaceuticals. By incorporating ImaginAb’s assets, Telix is well-positioned to accelerate the development of next-generation therapies and expand its footprint in oncology and rare diseases. The company’s focus on unmet clinical needs and precision targeting sets it apart in the biopharmaceutical sector.

While the transaction is subject to regulatory approvals and other customary conditions, Telix’s leadership is optimistic about the benefits it will bring to the company’s research, development, and commercialisation efforts. The strategic combination of innovative technology, high-value drug candidates, and a talented team of experts is expected to drive long-term growth and reinforce Telix’s position as a pioneer in radiopharmaceutical innovation.

By leveraging these newly acquired capabilities, Telix aims to develop transformative therapies that improve patient outcomes and address critical gaps in cancer and rare disease treatment. With its enhanced pipeline and expanded research infrastructure, Telix is poised to deliver on its mission of advancing precision care and shaping the future of radiopharmaceuticals.