Telix bets bigger on radiopharma with $1.65B ITM takeover and big ITM-11 milestones
Telix will acquire ITM Isotope Technologies Munich for about $1.65 billion upfront, with up to $700 million in milestones tied to ITM-11, a radioligand therapy that FDA flagged for manufacturing issues and which Telix plans to refile after remediation; the deal aims to expand Telix’s radiopharmaceutical pipeline and manufacturing network and positions the combined company to compete with Novartis’ Lutathera and Telix’s own TLX591 growth prospects. Analysts are bullish on the upside, despite the regulatory hurdle for ITM-11.
