Telix to receive $57m through new partnership with Regeneron
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The news: Telix Pharmaceuticals will receive USD40 million ($57 million) from biotech firm Regeneron as part of a joint development and commercialisation agreement.
The numbers: Under the agreement, Telix and Regeneron will co-develop and commercialise new radiopharmaceutical therapies through a 50/50 cost and profit-sharing model.
Telix will receive USD40 million upfront for Regeneron to access an initial four therapeutic programs. Regeneron will have the option to expand to four additional programs with additional upfront payments.
If Telix opts out of the co-funding model for a particular program, it will receive up to USD535 million in development and commercial milestones, plus low double-digit royalties on future net sales, for that program.
Overall, Telix said it could earn “up to an aggregate of USD2.1 billion in development and commercial milestone payments plus low double-digit royalties”.
The context: The companies also focus on precision oncology and develop radio diagnostics. The collaboration also covers multiple solid tumour targets from Regeneron’s portfolio of antibodies produced from its genetically engineered VelocImmune mice.
What they said: “The collaboration with Regeneron reflects a highly complementary set of capabilities and a unique opportunity to explore what true ‘next gen’ biologics-based radiopharmaceuticals can potentially do for patients,” Telix managing director and group CEO Christian Behrenbruch said.
Regeneron senior vice president of oncology and antibody technology research John Lin said: “Targeted radiopharmaceuticals represent a rapidly emerging frontier in oncology and an exciting opportunity to bring new treatment options to patients in need.”
The source: ASX
