CAIX

HealthCare Royalty and Heidelberg Pharma amend royalty financing agreement to provide for USD 20 million payment Heidelberg Pharma extends cash runway into 2027 Ladenburg, Germany, 13 March 2025 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech Company developing innovative Antibody Drug Conjugates (ADCs), and HealthCare Royalty (HCRx) today announced that they have signed an amendment to the royalty financing agreement entered into in March 2024. The March 2024 royalty financing agreement and current amendment cover the partial monetization of Heidelberg Pharma’s future royalties on the worldwide sales of TLX250-CDx, a radiopharmaceutical Positron Emission Tomography (PET) imaging agent for the diagnosis and characterization of clear cell renal cancer. An upfront payment of USD 25 million was already made to Heidelberg Pharma in March 2024. Key terms of the amended agreement between Heidelberg Pharma and HCRx are as follows: Heidelberg Pharma will receive a payment of USD 20 million upon signature. The USD 15 million sales-based milestone for year 2025 is eliminated. The originally agreed USD 75 million payment upon FDA approval of TLX250-CDx will be reduced to USD 70 million, with further reductions if FDA approval occurs after the end of 2025. The second tier of the two-tier escalating cap on cumulative royalties sold to HCRx has increased. When the escalating cap has been reached, royalty payments will return to Heidelberg Pharma and HCRx will receive a low single digit royalty tail percentage thereof. Prof. Dr. Andreas Pahl, Chief Executive Officer at Heidelberg Pharma, commented: “The amendment with HCRx provides us with non-dilutive financing and will significantly increase our cash reach. Due to the delay in FDA approval of TLX250-CDx, the agreed sales-based milestone payment would have been difficult to achieve and has now instead been converted into another payment. We are very pleased that our development and commercialization partner Telix has received positive feedback from the FDA on its Biologics License Application and has been granted priority review. We expect an approval decision and the next significant milestone payment by the end of August.” Based on the agreement with HCRx and expected incremental payments of USD 90 million to Heidelberg Pharma, the company anticipates an extended cash runway into 2027. About TLX250-CDx TLX250-CDx is a radiolabeled form of the antibody girentuximab which binds to the tumor-specific antigen CAIX on clear cell renal cell carcinomas. TLX250-CDx also has potential as a PET diagnostic imaging agent for other tumor types. Heidelberg Pharma developed the antibody up to a first completed Phase III clinical trial prior to licensing it to Telix Pharmaceuticals Limited (Telix), an Australian company based in Melbourne, Australia, in 2017. About Heidelberg Pharma Heidelberg Pharma is a biopharmaceutical company working on a new treatment approach in oncology and developing novel drugs based on its ADC technologies for the targeted and highly effective treatment of cancer. ADCs are antibody-drug conjugates that combine the specificity of antibodies with the efficacy of toxins to fight cancer. Selected antibodies are loaded with cytotoxic compounds, the so-called payloads, that are transported into diseased cells. Inside the cells, the toxins then unleash their effect and kill the diseased cells. Heidelberg Pharma uses several compounds and has built up an ADC toolbox that overcomes tumor resistance via numerous pathways and addresses different types of cancer using various antibodies. The goal is to develop targeted and highly effective ADCs for the treatment of a variety of malignant hematologic and solid tumors. Heidelberg Pharma is the first company to use the compound Amanitin from the green death cap mushroom in cancer therapy. The biological mechanism of action of the toxin represents a new therapeutic modality and is used as a compound in the Amanitin-based ADC technology, the so-called ATAC technology. The company is based in Ladenburg, Germany, and is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol HPHA. More information is available at www.heidelberg-pharma.com. ATAC® is a registered trademark of Heidelberg Pharma Research GmbH. ITAC™, ETAC™ are pending trademark applications of Heidelberg Pharma Research GmbH. About Healthcare Royalty HealthCare Royalty (HCRx) is a leading royalty acquisition company focused on commercial or near-commercial biopharmaceutical products. With offices in Stamford, Conn., San Francisco, Boston, London and Miami, HCRx has invested $5+ billion in over 90 biopharmaceutical products since inception. For more information, visit https://www.hcrx.com. HEALTHCARE ROYALTY® and HCRx® are registered trademarks of HealthCare Royalty Management, LLC.

HealthCare Royalty and Heidelberg Pharma amend royalty financing agreement to provide for USD 20 million payment Heidelberg Pharma extends cash runway into 2027 Ladenburg, Germany, 12 March 2025 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech Company developing innovative Antibody Drug Conjugates (ADCs), and HealthCare Royalty (HCRx) today announced that they have signed an amendment to the royalty financing agreement entered into in March 2024. The March 2024 royalty financing agreement and current amendment cover the partial monetization of Heidelberg Pharma’s future royalties on the worldwide sales of TLX250-CDx, a radiopharmaceutical Positron Emission Tomography (PET) imaging agent for the diagnosis and characterization of clear cell renal cancer. Key terms of the amended agreement between Heidelberg Pharma and HCRx are as follows: Heidelberg Pharma will receive a payment of USD 20 million upon signature. The USD 15 million sales-based milestone for year 2025 is eliminated due to the delay of the potential market launch of TLX250-CDx; FDA approval could be granted by 27 August 2025. The originally agreed USD 75 million payment upon FDA approval of TLX250-CDx will be reduced to USD 70 million, with further reductions if FDA approval occurs after the end of 2025. The second tier of the two-tier escalating cap on cumulative royalties sold to HCRx has increased. When the escalating cap has been reached, royalty payments will return to Heidelberg Pharma and HCRx will receive a low single digit royalty tail percentage thereof. Based on the agreement with HCRx and expected incremental payments of USD 90 million to Heidelberg Pharma, the company anticipates an extended cash runway into 2027. +++ End of the ad hoc announcement +++ About TLX250-CDx TLX250-CDx is a radiolabeled form of the antibody girentuximab which binds to the tumor-specific antigen CAIX on clear cell renal cell carcinomas. TLX250-CDx also has potential as a PET diagnostic imaging agent for other tumor types. Heidelberg Pharma developed the antibody up to a first completed Phase III clinical trial prior to licensing it to Telix Pharmaceuticals Limited (Telix), an Australian company based in Melbourne, in 2017.

Sun Pharmaceutical entered into a definitive agreement to acquire financially distressed US biotech Checkpoint Therapeutics for as much as $355 million upfront. The acquisition also includes a contingent value right (CVR) linked to Checkpoint's Unloxcyt (cosibelimab-ipdl), which is the only anti-PD-L1 treatment approved in the US for advanced cutaneous squamous cell carcinoma (cSCC)."Combining Unloxcyt…with Sun Pharma's global presence means patients with cSCC may soon have access to an important, new treatment option,” said Dilip Shanghvi, chairman and managing director of the Indian drugmaker. Unloxcyt was approved in December, after its initial rejection by the US regulator in 2023 owing to issues at a third-party contract manufacturer.Following approval of Unloxcyt, analysts at HC Wainwright suggested that given the drug's "significant economic upside" — coupled with Checkpoint's pipeline — a "full company acquisition is ideal, and the most likely, scenario." The pharma's pipeline includes the third-generation EGFR inhibitor olafertinib (formerly CK-101) for EGFR-positive non–small-cell lung cancer, as well as earlier-stage drugs targeting BET, GITR and CAIX.However, Checkpoint has struggled to stay afloat, with cash reserves standing at $4.7 million as of September 30 last year, whilst its accumulated debt was $341.7 million. Under the agreed terms, Sun Pharma will pay Checkpoint shareholders $4.10 per share in cash upfront, representing a 66% premium to the latter’s closing price on March 7. Meanwhile, stock owners also stand to receive a CVR of up to $0.70 per share upon approval of Unloxcyt by the European Commission, or in Germany, France, Italy, Spain or the UK, by certain deadlines.Checkpoint's board has unanimously approved the acquisition, and Fortress Biotech, the company's majority stakeholder, has agreed to support the transaction, which is expected to close in the second quarter. This latest takeover bid is part of Sun Pharma's strategic initiatives to expand its global footprint in oncology and immunotherapy, and follows its licensing agreement with Italian-Swiss firm Philogen for the cancer drug Fibromun (L19TNF) last year.