Telix Pharmaceuticals - Telix signs a big China deal
Telix announced on 2 November 2020 that it has entered into a licensing agreement with China Grand Pharmaceutical (CGP) for the greater Chinese rights to its diagnostic and therapeutic products. The deal includes up to US$225m in potential cash payments, including a US$25m non-refundable upfront advance, as well as royalties on therapeutic products sales and a comarketing agreement for the diagnostic products. Additionally, CGP will make a US$25m equity investment in Telix.Telix Pharmaceuticals Ltd. Telix Pharmaceuticals Limited is an Australia-based biopharmaceutical company. The Company is focused on development and commercialization of diagnostic and therapeutic products based on radiopharmaceuticals, or molecularly-targeted radiation (MTR). MTR is a novel therapeutic approach that selectively delivers radiation to cells that exhibit certain molecular profiles or targets that may be indicative of cancer. The Company's MTR products such as TLX-250 diagnosis and treatment of renal (kidney), TLX-591 treatment of metastatic castrate-resistant prostate cancer, and TLX-101 treatment of glioblastoma (brain cancer).
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