The deal comes after the companies signed a conditional non-binding term sheet for the prospective acquisition.
Telix will also acquire QSAM’s lead investigational drug, Samarium-153-DOTMP (¹⁵³Sm-DOTMP), a new kit-based bone-seeking targeted radiopharmaceutical candidate.
The acquisition terms include an upfront payment of $33.1m (A$50.8m), payable as 4,369,914 ordinary shares of Telix.
The deal also comprises contingent value rights that could see additional payments of $90m on meeting clinical and commercial milestones. These payments may be made in cash and/or shares.
Telix managing director and group CEO Dr Christian Behrenbruch stated: “The acquisition of QSAM provides Telix with an additional near-term therapeutic pipeline asset, further differentiating our innovation position in radiopharmaceuticals and building depth in Telix’s key disease focus areas of urological and musculoskeletal oncology.
“Samarium is a highly optimal radionuclide for treating bone metastases, and the combination of orphan drug designation and rare paediatric disease designation status with Telix’s demonstrated experience in pharmacy-based cold-kit distribution has strong potential for a rapid pathway to commercialisation of this asset.”
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.