Telix expands portfolio by acquiring Advanced Nuclear Medicine Ingredients (ANMI) SA

Clarendon Lawyers is pleased to announce that it has advised ASX-listed Telix Pharmaceuticals Limited (ASX: TLX) (Telix) on its acquisition of Belgium-based, Advanced Nuclear Medicine Ingredients (ANMI) SA (ANMI) for EUR$5.15 million (approximately A$8.07 million). The purchase price will be satisfied by a combination of cash and issuing scrip in Telix to ANMI shareholders. The transaction is expected to complete in December 2018 (subject to satisfaction of standard conditions to completion).

Telix is a global biopharmaceutical company (based in Australia with R&D, clinical and commercial activities in the United States, Asia and throughout Europe) focused on developing a portfolio of clinical-stage oncology products which address significant unmet medical need in renal, prostate and brain (glioblastoma) cancer. Telix is dedicated to the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals, also known as “molecularly-targeted radiation”.

Telix’s acquisition of ANMI builds on their existing joint venture arrangement for the manufacture and distribution of ANMI’s lead technology in the US – a prostate cancer imaging “cold kit” known as illumetTM in the US. By bringing Telix and ANMI together, Telix will be able to take a unified approach to diagnosis and staging of prostate cancer on a global basis. ANMI’s highly-talented team will add to Telix’s operational and commercial capability in Europe and ANMI’s strategy to increase patient access to targeted radiopharmaceutical diagnosis, and treatment is intended to boost Telix’s capability to deliver its current product pipeline in other modalities for rapid and streamlined deployment into the US and international radiopharmacy networks.

The Clarendons team was led by Director, Alex Bean and Associate, Natasha Arora.

Mr Bean stated: “We’re delighted to continue to support the Telix team on its latest acquisition, which will further support Telix to deliver on its strategy to make a difference to late stage metastatic prostate cancer patients. By leveraging our mid-market M&A and cross-border expertise, together with experience in the medical and healthcare industry, we are perfectly equipped to execute transactions such as ANMI.  We look forward to working with Telix to achieve its goals as it progresses its pipeline towards commercialisation.”