Telix announces acquisition of IsoTherapeutics Group, LLC

Telix Pharmaceuticals Limited (ASX: $TLX) has entered into an agreement to acquire IsoTherapeutics Group, LLC, a specialty radiopharmaceutical development and bioconjugation firm based in Angleton, Texas. The acquisition is expected to enhance Telix's in-house drug development capabilities and expand its U.S. manufacturing footprint.

Executive commentary on the acquisition

Dr. Christian Behrenbruch, Managing Director and Group CEO of Telix, expressed, 'With the agreement to acquire IsoTherapeutics, I am pleased to welcome a team of highly recognized industry leaders in bioconjugation and radiochemistry to Telix, as well as further expand our manufacturing footprint in the U.S.. This acquisition enhances our business with highly-sought-after skills, capabilities, and facilities that are very much central to our development activities.' Dr. R. Keith Frank, President and CEO of IsoTherapeutics, stated, 'The opportunity to now become part of the Telix Group of companies, a global leader in the field, provides an excellent platform for our employees, partners, and customers to continue to expand the expertise and facilities at IsoTherapeutics.'

Summary of Telix's acquisition of IsoTherapeutics

Telix Pharmaceuticals Limited (ASX: $TLX) has strategically acquired IsoTherapeutics Group, LLC, a specialty radiopharmaceutical development and bioconjugation firm based in Angleton, Texas. The acquisition is expected to strengthen Telix's ability to innovate and scale-up manufacturing, provide manufacturing and isotope production facilities and capabilities, and establish a center of excellence in GMP bioconjugation and isotope processing. The purchase price comprises an upfront payment, performance-related milestone payments, and a two-year revenue share based on actual revenue earned from existing customers of IsoTherapeutics. The acquisition is anticipated to have a non-material positive impact on Telix's earnings. Telix expects to realize potential cost savings from bringing radiochemistry-related research and development activities in-house. The addition of IsoTherapeutics will be complementary to Telix's existing capabilities and support the commercialization of Telix's investigational therapeutic assets. The acquisition is subject to customary conditions, including regulatory approvals.