Telix Pharmaceuticals has entered into an asset purchase agreement with ImaginAb initially worth $45 million.
Under terms of the deal, Telix will acquire a pipeline of therapeutic candidates such as DLL3 and integrin αvβ6, a biologics technology platform, and a protein engineering and discovery research facility in California, it said.
The new drug candidates will fit into Telix’s existing therapeutics development, while the intellectual property it will acquire from ImaginAb will allow for specific cancer targeting, it said.
Along with the $45 million initial purchase price, Telix will pay ImaginAb up to an additional $185 million on ImaginAb’s achievement of development and commercial milestones.