Australia’s Telix Pharma announces strategic radiopharma collaboration worth $535 M with Regeneron

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Australia-based Telix Pharmaceuticals and US-based Regeneron Pharmaceuticals, Inc. have announced a collaboration to jointly develop and commercialise next generation radiopharmaceutical therapies.

The collaboration combines Telix’s radiopharmaceutical development platform, global manufacturing capabilities and supply chain infrastructure with Regeneron’s extensive biologics expertise, including bispecific antibody discovery.

The collaboration will include multiple solid tumor targets from Regeneron’s portfolio of antibodies, generated from VelocImmune® mice. With a shared commitment to precision oncology, the parties also plan to develop radio-diagnostics to support patient selection and treatment response assessment.

Under the terms of the agreement, Telix will receive an upfront cash payment of $40 million from Regeneron for access to its radiopharmaceutical manufacturing platform for four initial therapeutic programmes, with Regeneron having the option to expand to include four additional programmes with additional upfront payments.

Telix and Regeneron will share equally in the global commercialisation costs and potential profits, with Telix retaining the option to co-promote certain potential products. Should Telix opt-out of the co-funding model for a particular programme, it is instead eligible to receive up to $535 million in development and commercial milestones, plus low double-digit royalites on future net sales, for that programme.