Telix Pharmaceuticals (ASX:TLX) completed the acquisition of therapeutic and diagnostic radiopharmaceutical assets targeting fibroblast activation protein, a pan-cancer target, according to a Wednesday filing with the Australian bourse.

The assets, developed by Professor Frank Roschand and his collaborators at a German University, feature a novel structure that enhances tumor retention and reduces off-target effects, the filing said.

The biopharmaceutical company has paid 5.3 million euros upfront, with an additional 4 million euros due over the next 12 months, subject to certain conditions.

The company will also pay up to 132 million euros in milestone payments tied to clinical and regulatory achievements, the filing added.