Telix, Regeneron enter $2.1B radiopharma partnership

Telix Pharmaceuticals and Regeneron have entered a strategic collaboration to develop and commercialize next-generation radiopharmaceutical therapies. The agreement uses a 50/50 cost and profit-sharing model.

Regeneron will bring antibody discovery and oncology development capabilities to the partnership. Telix will contribute its radiopharmaceutical development platform, manufacturing capabilities, and supply-chain infrastructure.

Initial work will cover 4 therapeutic programs. Regeneron also has an option to expand the collaboration to 4 additional programs with further upfront payments, according to the companies.

Solid tumor targets will come from Regeneron’s antibody portfolio, including antibodies generated from VelocImmune mice. The companies said they also plan to develop radiodiagnostics for patient selection and treatment response assessment.

Telix will receive $40M upfront for access to its radiopharmaceutical manufacturing platform. Under the agreement, the companies will share global commercialization costs and potential profits equally.

For any program where Telix opts out of co-funding, it may receive up to $535M in development and commercial milestones, plus low double-digit royalties on net sales. Across the initial programs, Telix said the deal could reach an aggregate of $2.1B in milestone payments.

Telix will lead commercialization of jointly developed diagnostic assets. Regeneron will receive a set percentage of profits from those assets, according to the agreement.