Telix Pharmaceuticals has finalized two strategic acquisitions to significantly expand its radiopharmaceutical pipeline, strengthening its position in the growing field of precision nuclear medicine.
FAP-Targeting Theranostic Acquisition Completed
Telix Pharmaceuticals (ASX:TLX, Nasdaq: TLX) has completed the acquisition of clinically validated Fibroblast Activation Protein (FAP)-targeting theranostic radiopharmaceutical candidates developed by Professor Frank Rösch and collaborators at the Institute of Nuclear Chemistry at Johannes Gutenberg-Universität Mainz in Germany.
The company has added the lead FAP-targeting therapeutic compound to its pipeline under the name TLX400 and is developing a theranostic program focused on bladder cancer as part of its urology franchise, while also exploring pan-cancer therapeutic applications across multiple solid tumor indications.
FAP is a promising pan-cancer marker expressed in the tumor microenvironment of epithelial cancers and on the surface of specific cancer types, including sarcomas and mesotheliomas. The acquired assets feature a novel structure that drives extended tumor retention while minimizing off-target uptake, potentially overcoming limitations observed with first-generation compounds.
"We are pleased to have finalized this transaction so that we can continue to leverage the FAP-targeting research pioneered by Professor Rösch and his team," said Richard Valeix, Telix CEO of Therapeutics. "We believe this technology holds great promise for both imaging and treating tumors, and Telix is now focused on using these compounds to build out our urology franchise and explore pan-cancer opportunities, with the goal of bringing new theranostic solutions to physicians and their patients."
The diagnostic and therapeutic compounds have already been clinically validated in over 500 patients across various solid tumors and are the subject of multiple peer-reviewed publications, providing a strong foundation for further development.
ImaginAb Acquisition Brings Next-Generation Platform
In a separate transaction, Telix has also completed the acquisition of antibody engineering company ImaginAb, Inc. for an upfront consideration of US$45 million (AU$73 million), with potential additional milestone payments of up to US$185 million (AU$299 million).
This acquisition delivers a pipeline of next-generation therapeutic candidates against validated cancer targets including DLL3 (overexpressed in high-grade neuroendocrine tumors and small cell lung cancer) and integrin αvβ6 (overexpressed during wound healing and in cancer), as well as a panel of agents targeting novel markers in early discovery stage.
The transaction includes a proprietary biologics technology platform utilizing small, engineered antibody formats that enable highly specific targeting of cancer with radiation, exhibiting fast tumor uptake and blood clearance. This technology has potential applications for both imaging and treatment of tumors with various radioisotopes, with particular interest in alpha emitters.
"The addition of an early-stage pipeline of promising theranostic assets and a novel biologics platform adds new optionality for Telix to create the next generation of precision medicine and therapeutic products, beyond the current clinical-stage pipeline," said Dr. Michael Wheatcroft, Chief Scientist at Telix. "We are particularly delighted to welcome a talented team of experts, further enhancing Telix's R&D capabilities."
The acquisition adds a state-of-the-art research facility in Los Angeles to Telix's U.S. operations, complementing existing facilities in Sacramento, Vancouver, and Angleton, Texas. ImaginAb's team of discovery, protein engineering, and radiopharmaceutical development experts will join Telix's early development team, strengthening the company's in-house capabilities.
Dr. Anna M. Wu, Co-Founder and Board Member of ImaginAb, commented, "The innovative radiotherapeutic technology platform is designed to optimize radiopharmaceutical therapies with targeting agents that are more selective and better match the pharmacology and radiobiology of a given radionuclide. The protein engineering and discovery team is excited to join Telix and further unlock the future potential of this platform and theranostic candidates."
Strategic Expansion of Radiopharmaceutical Portfolio
These acquisitions represent significant steps in Telix's strategy to build a comprehensive radiopharmaceutical portfolio addressing unmet needs in oncology. The company is already established in the prostate cancer imaging market with its FDA-approved gallium-68 gozetotide injection (Illuccix®), which has also received approval from Australian and Canadian regulatory authorities, with a positive decision on its Marketing Authorization Application in Europe.
The expanded pipeline and enhanced R&D capabilities position Telix to accelerate development of novel theranostic solutions across multiple cancer types, potentially transforming treatment paradigms through targeted radiation delivery to cancer cells while sparing healthy tissue.
With these strategic acquisitions, Telix continues to strengthen its position as a leader in the rapidly evolving field of radiopharmaceuticals, with a growing portfolio of diagnostic and therapeutic candidates addressing significant unmet medical needs in oncology and rare diseases.
