Telix Pharmaceuticals Limited (ASX: TLX, Nasdaq: TLX, "Telix" or "the Company") today announced the acquisition of a next-generation therapeutics pipeline and proprietary biologics platform from ImaginAb, Inc. ("ImaginAb"), a leading antibody engineering company. This strategic acquisition enhances Telix's innovation capabilities and positions the Company to expand into new therapeutic areas addressing significant unmet clinical needs.

The transaction includes the acquisition of early-stage drug candidates targeting high-value cancer markers such as DLL3 and integrin αvβ6, alongside a portfolio of novel discovery-stage targets. These cutting-edge drug candidates align with Telix’s existing pipeline, leveraging small engineered antibody formats for precise tumor targeting and rapid blood clearance. The technology holds immense potential for imaging and treating tumors using a wide range of radioisotopes, with a particular focus on alpha emitters.

In addition, the deal includes a state-of-the-art research facility in California and a highly experienced team specializing in discovery, protein engineering, and radiopharmaceutical development. These assets will significantly bolster Telix’s in-house research capabilities, supporting the development of next-generation precision medicine and radiotherapeutics.

Richard Valeix, Chief Executive Officer, Therapeutics at Telix, stated:
"This acquisition represents a pivotal step in advancing Telix’s innovation pipeline. The combination of a proprietary drug discovery platform, a promising portfolio of theranostic assets, and an expert team empowers us to explore new disease areas with cutting-edge radiopharmaceutical technology. This move positions Telix at the forefront of next-generation precision medicine."

Dr. Anna M. Wu, Co-Founder and Board Member of ImaginAb, commented:
"Radiopharmaceuticals are transforming oncology care, but there is a growing need for more selective targeting agents that minimize off-target radiation and optimize therapeutic outcomes. ImaginAb’s proprietary platform and clinical proof-of-concept serve as a strong foundation for future breakthroughs. Telix is the ideal partner to realize the therapeutic potential of this platform."

Transaction Highlights

• Purchase Price: US$45 million (AU$73 million), comprising US$10 million in cash, US$31 million in equity at closing, and a deferred payment of up to US$4 million in equity after a 15-month indemnity period.
• Milestone Payments: Up to US$185 million (AU$299 million) contingent upon achieving key development and commercial milestones.
• Royalties: Low single-digit royalties on net sales for select products beyond the first four developed, alongside single-digit sublicense fees as applicable.
• Completion: The transaction is subject to customary regulatory and third-party approvals, with the equity consideration subject to voluntary escrow restrictions.

The acquisition underscores Telix’s commitment to advancing the development of innovative cancer therapies and precision radiopharmaceuticals, solidifying its position as a global leader in the field.