Apr. 13 at 12:24 PM
$TLX (L @ 14% PW)
$REGN co/co deal represents all upside to my entry thesis (clearly sees the strategic value of Telix' radiopharmaceutical development platform, global manufacturing and supply chain infrastructure)
Telix gets
$40M upfront to pursue four initial therapeutics programs with option to expand to 4 more.
Regeneron clearly sees this as a way to expand their toolbox of treatment modalities (skating to where the puck is going as the radiopharmaceutical space heats up, particularly combinations with immunotherapy).
Interestingly, Telix gets to lead commercialization for diagnostics (follow up its current portfolio of Illucix, Gozellix, Pixclara and Zircaix, which on their own could lead to 30%+ CAGR in coming years)
Also, the collaboration gives
$REGN a foothold by which they can view Telix' other wholly-owned therapeutic programs (three of which are in phase 3). Back in 2022,
$LNTH paid
$260M upfront for Point Biopharma's PSMA therapeutic program (would be competitor to
