Heidelberg Pharma Secures $45 Million Through Modified Licensing Agreement with HealthCare Royalty and Soleus Capital
核心洞察
Heidelberg Pharma announced a modified licensing agreement with HealthCare Royalty (搜索) and new partnership with Soleus Capital (搜索), securing $20 million upfront and $25 million upon FDA approval of TLX250-Px (搜索).
The deal involves partial monetization of future royalties from Telix Pharmaceuticals' imaging diagnostic TLX250-Px (搜索), which targets CAIX (搜索) antigen on clear cell renal cell carcinomas.
Based on current planning and available funds, the agreement ensures company financing through mid-2027, supporting Heidelberg Pharma's ADC development programs.
Heidelberg Pharma AG announced a significant modification to its existing licensing agreement with HealthCare Royalty (搜索) (HCRx) and the involvement of Soleus Capital (搜索) Management, securing up to $45 million in funding through the partial monetization of future royalties from TLX250-Px (搜索), an imaging diagnostic developed by Telix Pharmaceuticals.
Financial Structure and Terms
Under the modified agreement, Heidelberg Pharma is entitled to receive $20 million upfront from Soleus Capital (搜索), subject to customary closing conditions expected to be fulfilled shortly. An additional $25 million payment will be triggered upon FDA approval of TLX250-Px (搜索). The HCRx payment structure for FDA approval under the existing agreement remains unchanged.
The deal represents an evolution of Heidelberg Pharma's royalty monetization strategy, building on agreements first established in March 2024 with HCRx and subsequently modified in March 2025. The current expansion includes an increase in the total payment cap and certain other contractual modifications, with Soleus Capital (搜索)'s involvement having no impact on HCRx payments.
Once the maximum cumulative amount of sold royalties under the modified agreement is reached, a high single-digit percentage of royalties will be due, with remaining royalties reverting to Heidelberg Pharma.
TLX250-Px Development Background
TLX250-Px (搜索) is a radiolabeled form of the antibody girentuximab, which binds to the tumor-specific antigen CAIX (搜索) on clear cell renal cell carcinomas. Heidelberg Pharma developed the antibody through completion of a first clinical Phase III study before licensing it to Telix Pharmaceuticals Limited, an Australian company based in Melbourne, in 2017.
Company's ADC Technology Platform
Heidelberg Pharma operates as a biopharmaceutical company developing novel approaches in oncology based on proprietary ADC technologies for targeted and highly effective cancer treatment. ADCs combine the specificity of antibodies with the efficacy of toxins to combat cancer, with selected antibodies loaded with various active substances and transported into diseased cells where the toxin can exert its effect and kill the cell.
As the first company to use the active ingredient amanitin (搜索) from the death cap mushroom for cancer therapy, Heidelberg Pharma has developed a novel therapeutic approach through its amanitin-based ADC technology, known as ATAC technology.
Clinical Pipeline Progress
The company's lead candidate HDP-101 (INN: pamlectabart tismanitin) is a BCMA (搜索)-ATAC in clinical development for multiple myeloma, having received FDA Orphan Drug status and Fast Track status. A second ATAC candidate, HDP-102, is in clinical development for non-Hodgkin lymphomas.
HDP-103 for metastatic castration-resistant prostate cancer and HDP-104 for gastrointestinal tumors including colorectal cancer have completed preclinical development. These three programs are available for partnerships.
Strategic Partnerships and Funding
HealthCare Royalty (搜索), founded in 2006 and majority-owned by KKR & Co. Inc. (搜索), has built an impressive track record over more than two decades, investing more than $7 billion in over 110 biopharmaceutical products. The company specializes in acquiring royalties from commercial and near-commercial biopharmaceutical assets.
Soleus Capital (搜索) is an investment firm based in Greenwich, Connecticut, managing hedge funds, private equity funds, and credit funds focused primarily on innovative areas of life sciences, including biotechnology, medical technology, diagnostics, and genomics.
Based on current planning, available funds, and the agreement signed today, the company's financing is secured through mid-2027, providing runway for continued development of its ADC pipeline and ATAC technology platform.