Telix Pharmaceuticals (ASX:TLX) agreed to acquire ImaginAb's pipeline of drug candidates, a proprietary biologics technology platform, and a protein engineering and radiopharmaceutical research facility in California for $45 million in total, according to an Australian bourse filing Monday.
The purchase price consists of $10 million in cash and $31 million in equity at closing, as well as a deferred payment of up to $4 million in equity after a 15-month indemnity period.
The dual-listed Telix plans to issue ordinary shares to ImaginAb under its placement capacity as consideration for the acquisition. It will also pay up to $185 million on hitting key development and commercial milestones, as well as royalties on net sales in the low single digits.
The acquired intellectual property has the potential to be highly effective for imaging and treating tumors with a broad range of radioisotopes, according to the filing.
The deal is subject to regulatory approvals and other customary conditions.
Telix Pharmaceuticals' shares fell past 1% in recent Monday trade.
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