Telix Pharmaceuticals (TLX) said Sunday it has agreed to purchase a pipeline of drug candidates, a proprietary biologics technology platform, and a protein engineering and discovery research facility from ImaginAb for $45 million in cash and stock plus future milestone, royalty, and sublicense payments.
Under the deal, Telix said it will pay $10 million in cash and $31 million in stock at closing and $4 million in stock after 15 months.
In addition, it will pay up to $185 million in payments upon achievement of certain development and commercial milestones, as well as royalties and sublicense fees in the low single digits, the company said,
The early-stage cancer drug candidates acquired use "small engineered antibody formats that enable highly specific cancer targeting, combined with fast tumor uptake and blood clearance," the company said.
The acquisition also includes a research facility in California already staffed by a team of experts, the company said.
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