China-based Grand Pharmaceutical Group Co., Ltd. (HKG: 0512) announced the sale of 4,947,181 shares in its Australia partner Telix Pharmaceuticals Ltd (ASX: TLX) for AUD 143 million (USD 89 million). The proceeds will be used for clinical development targeting unmet clinical needs, including programs in collaboration with Telix. Grand Pharma has pledged not to sell the remaining 6 million shares of Telix within the next 12 months.
Licensing Agreement and Investment
In November 2020, Grand Pharma licensed Telix’s portfolio of molecularly-targeted radiation products for Greater China rights in a deal worth up to AUD 400 million (USD 249 million), including an equity investment of AUD 35 million (USD 21.8 million) in Telix.
Telix’s Product Portfolio
Telix boasts TLX591-CDx, a radionuclide-drug conjugate (RDC) for the diagnosis of prostate cancer. The product is registered in the US, Australia, and Canada, among others, and has received positive opinions in the European Union. TLX591-CDx generated global sales of AUD 783 million (USD 487 million) in 2024, marking a 56% year-on-year increase.-Fineline Info & Tech
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