Telix Completes Acquisition of ImaginAb's Therapeutic Assets
Deal News | Jan 30, 2025 | Globenewswire
Telix Pharmaceuticals Limited, a global biopharmaceutical company, has successfully completed its acquisition of ImaginAb, Inc.'s therapeutic assets and innovative biologics technology platform. The acquisition includes a cutting-edge pipeline of next-generation therapeutic candidates targeted against cancer, as well as a proprietary technology platform that harnesses engineered antibody formats for precise cancer targeting with radiation. This integration aims to expand Telix's existing therapeutics pipeline, particularly in areas with unmet clinical needs. The transaction, valued at $45 million upfront, includes both cash and equity components with additional milestone payments of up to $185 million. The deal bolsters Telix's U.S. operations with a new research facility in Los Angeles and brings onboard ImaginAb's expert team, significantly enhancing Telix's R&D capabilities. Financial advisors to ImaginAb during the transaction were Jefferies LLC and Stifel, Nicolaus & Company. This strategic move positions Telix favorably in the development of precision diagnostics and therapeutics for oncology and rare diseases.
Sectors
- Biotechnology
- Pharmaceuticals
Geography
- United States – The transaction includes assets and a research facility in Los Angeles and involvement of U.S.-based financial advisors.
- Australia – Telix Pharmaceuticals is headquartered in Melbourne.
Industry
- Biotechnology – The article discusses Telix Pharmaceuticals' acquisition of ImaginAb, focused on developing biopharmaceuticals and radiopharmaceuticals, fitting within the biotechnology sector.
- Pharmaceuticals – Telix's acquisition and subsequent expansion of its theranostics and radiopharmaceutical offerings fall under the pharmaceuticals sector.
Financials
- US$45 million – Upfront consideration value for the acquisition.
- US$31 million – Equity portion of the upfront payment to ImaginAb.
- US$10 million – Cash portion of the upfront payment to ImaginAb.
- US$185 million – Potential future milestone payments contingent on the achievement of specific development and commercial milestones.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Telix Pharmaceuticals Limited | Acquiring Company | Company | A biopharmaceutical company specializing in radiopharmaceuticals for oncology and rare diseases. |
| ImaginAb, Inc. | Target Company | Company | A biotechnology firm developing radiopharmaceutical imaging agents. |
| Jefferies LLC | Financial Advisor | Company | Provided financial advisory services to ImaginAb for the transaction. |
| Stifel, Nicolaus & Company, Incorporated | Financial Advisor | Company | Served as financial advisor to ImaginAb alongside Jefferies LLC. |