Multibillion-dollar deal brings together major industry players to develop 'next gen' radiopharmaceuticals
Two major players in the pharmaceutical industry are collaborating in a multibillion-dollar deal to advance the development of radiopharmaceuticals.
Melbourne, Australia-based Telix Pharmaceuticals and Regeneron Pharmaceuticals, Tarrytown, New York, announced Monday they are entering a joint venture intended to advance cancer diagnostics and treatment. The collaboration is expected to rake in over $4 billion.
The partnership will combine Regeneron’s industry-leading antibody discovery platform with Telix’s radiopharma development and manufacturing expertise. The duo plan to build on the multiple solid tumor targets Regeneron already has in its portfolio and further explore the potential of various radio-diagnostics intended to enhance patient selection and treatment-response assessments.
The agreement stipulates that Regeneron will front $40 million in cash to Telix to acquire access to its radiopharmaceutical manufacturing platform for four initial therapeutic programs. Regeneron will have the option to add four more programs attached to additional upfront payments. The duo will evenly divide the costs of global commercialization and any profits made, while Telix will retain the option to co-promote certain potential products. If Telix at any point decides to opt out of this model, it will be eligible to receive $535 million based on development and commercial milestones, in addition to royalties on future sales.
The partnership will mark Regeneron’s first entry into the radiopharmaceutical market—something the company’s Senior Vice President Israel Lowy, MD, PhD, expressed enthusiasm about.
“Telix brings deep expertise in radiopharmaceutical development and infrastructure that complements Regeneron’s antibody technologies and oncology portfolio,” Israel Lowy, MD, PhD, who also is the clinical development unit head of oncology at Regeneron, said in a statement.
“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,” added Christian Behrenbruch, D.Phil., managing director and group CEO at Telix.
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In addition to her background in journalism, Hannah also has patient-facing experience in clinical settings, having spent more than 12 years working as a registered rad tech. She began covering the medical imaging industry for Innovate Healthcare in 2021.