Regeneron, Telix partner on radiopharmaceutical development

Telix Pharmaceuticals, a Melbourne, Australia-based radiopharmaceutical developer, and Regeneron Pharmaceuticals, headquartered in Tarrytown, New York, announced a collaboration to co-develop and commercialize next-generation radiopharma therapies.

The agreement combines Telix’s radiopharma development and manufacturing platform with Regeneron’s antibody discovery and development capabilities, including bispecific antibody technologies. The collaboration will target multiple solid tumor indications and includes development of companion diagnostics for patient selection and treatment monitoring, the companies said.

Under the terms of the agreement, Telix will receive a $40 million upfront payment for four initial programs, with the potential to earn up to an aggregate of $2.1 billion in development and commercial milestone payments plus low double-digit royalties. The companies will share global development costs and commercial profits equally, with the option to expand the collaboration to additional programs. If Telix opts out of co-funding for specific programs, it may receive up to $535 million per program in milestone payments and low double-digit royalties on future net sales, according to the companies.

The companies said the partnership is designed to integrate biologics and radiopharma manufacturing capabilities to support development and commercialization of targeted oncology therapies. Telix will lead commercialization of diagnostic assets, with Regeneron receiving a share of profits.

The collaboration follows continued manufacturing investments by Regeneron, including a $2 billion expansion project in Saratoga Springs, New York, aimed at increasing biologics production capacity, as well as additional investments in U.S. manufacturing infrastructure and external supply partnerships.