In line with Telix’s continued investment in the vertical integration of supply chain, manufacturing and development capabilities, the acquisition is expected to further enhance Telix’s in-house drug development capabilities. A key driver for the acquisition is to enable
The acquisition will also expand Telix’s
Strategic rationale
The acquisition is highly synergistic with Telix’s vertical integration strategy and is expected to:
- strengthen Telix’s ability to innovate and scale-up manufacturing, supporting the delivery of clinical trials initially, and
- provide manufacturing and isotope production facilities and capabilities, allowing for greater control over the isotope supply chain and establishing infrastructure which will support the commercialisation of Telix’s investigational therapeutic assets, and
- establish a centre of excellence in GMP bioconjugation and isotope processing.
The addition of IsoTherapeutics will be complementary to – and increase the overall capabilities of – the Company alongside the Optimal Tracers laboratory, radiochemistry development and clinical dose production facility in
Following closing of the acquisition, IsoTherapeutics will continue to provide development and manufacturing services to its existing customer base and may continue to provide services to Telix’s strategic partners and collaborators.
Dr.
Dr.
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1 Good manufacturing practice.
Deal terms and conditions
The purchase price comprises:
US$8 million (AU$12.2 million) upfront, which is payable at closing in the form ofUS$2 million (AU$3.0 million in cash) andUS$6 million (AU$9.2 million) in ordinary shares, equating to approximately 823,481 shares2US$5 million (AU$7.6 million) performance-related milestone payments, payable in cash, that are subject to meeting milestone conditions within twelve months of closing, and- A two-year revenue share based on actual revenue earned from existing customers of IsoTherapeutics (total estimated cash payments
~US$0.6 million (AU$0.9 million).
The cash upfront consideration is subject to customary working capital, debt and transaction expense adjustments.
Closing of the transaction is subject to customary conditions, including regulatory approvals.
About IsoTherapeutics
About
Visit www.telixpharma.com for further information about
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2 Assumes an AUD/USD exchange rate of 0.6557 (used throughout this announcement). Refer to the Appendix 3B lodged with the ASX today for further details.
Telix Investor Relations
Ms. Kyahn Williamson
SVP Investor Relations and Corporate Communications
Email: kyahn.williamson@telixpharma.com
This announcement has been authorised for release by the Telix Pharmaceuticals Limited Disclosure Committee on behalf of the Board.
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