Telix and Regeneron will co-develop and co-commercialize next-generation radiopharmaceutical therapies targeting multiple solid tumors, leveraging Telix’s radiopharmaceutical manufacturing platform and Regeneron’s bispecific antibody discovery expertise.

Under the agreement, Telix receives a US$40 million upfront payment for four initial programs, with both parties sharing 50 percent of development and commercialization costs and profits. Telix may also opt out of co-funding specific programs to earn up to US$535 million per program in milestone payments plus low double-digit royalties, and the deal includes rights to up to US$2.1 billion in aggregate milestones and an option for four additional programs.

The collaboration expands Telix’s oncology pipeline into targeted radiopharmaceuticals and companion diagnostics for patient selection and treatment response, combining complementary technologies to address high-unmet-need cancers. This partnership could significantly enhance Telix’s long-term growth potential and valuation by tapping into Regeneron’s antibody platforms and global commercial infrastructure.