Telix Pharmaceuticals and China Grand Pharma Announce Strategic Licence and Commercial Partnership for Greater China Market

Telix is pleased to partner with China Grand Pharmaceutical and Healthcare Holdings Limited in AU$400M strategic licence and commercial partnership for Telix’s portfolio of Molecularly-Targeted Radiation products in the Greater China market. Additionally, China Grand Pharma will make a strategic equity investment of AU$35M in Telix.

Therapeutic Products

  • US$25M (~AU$35M) up-front non-refundable prepayment to Telix, to be credited against future regulatory and commercial milestone payments.
  • Up to US$225M (~AU$315M) in regulatory and commercial milestone payments to Telix, across Telix’s existing therapeutic products portfolio.
  • Program-related investment estimated at up to US$65M (~AU$90M) for clinical costs associated with the development of the therapeutic products in the Territory, to align with Telix’s global clinical development programs.
  • Royalties on therapeutic product sales in the Territory, in addition to milestone payments.

Imaging Products

  • Exclusive commercial partnership (sales, marketing, distribution) for Telix’s core imaging product portfolio:
    • TLX250-CDx (89Zr-Girentuximab) for renal cancer, and;
    • TLX591-CDx (68Ga-PSMA), TLX599-CDx (99Tc-PSMA) for prostate cancer.
  • Includes minimum annual purchase obligations to maintain Territory exclusivity.

Telix Pharmaceuticals CEO, Dr. Chris Behrenbruch stated, “Telix’s mission is to be a leading global oncology company and China is an important future market for our products. We are pleased to be working with CGP to deliver our diagnostic imaging and therapeutic products to cancer patients in China. Considering the successful acquisition of Sirtex Medical Limited with joint venture private equity partner CDH Genetech Limited and subsequent approval of a New Drug Application filing for SIR-Spheres® by the National Medical Products Administration (NMPA) of the People’s Republic of China, we believe that CGP possesses the technical experience and execution infrastructure to be an ideal clinical and commercial partner for Telix in China.”

China Grand Pharmaceutical and Healthcare Holdings Executive Deputy Officer, Mr Frank Zhou added, “China Grand Pharma has a strong commitment to oncology, including radioactive products, in China and around the globe. Grand Pharma sees nuclear medicine as the future and has a strategy to build a suite of the world’s best products to service the Greater China Region, which includes mainland China, Hong Kong SAR, Macau SAR and Taiwan. We firmly believe in the potential of Telix’s product portfolio to have a significant clinical impact in China. It is an honour for us to have the right to bring Telix’s unique product range to our doctors and patients with major unmet medical needs. At the same time, our close clinical involvement will help bring strength to Telix’s product development and reach. We are very excited about this long-term partnership.”

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