Telix Pharmaceuticals has bought US-based radioisotope manufacturer RLS Radiopharmacies to expand its manufacturing footprint in the US. The acquisition will cost the Australian radiopharma company $230m upfront, with an additional $20m tied to milestone payments. In return, Telix will gain 31 of RLS’s licensed radiopharmacies across the US, establishing a radiometal production and distribution network for key therapeutic and diagnostic isotopes, along with last-mile delivery of finished doses to target markets.
The gold standard of business intelligence. Telix plans on deploying its isotope production platform, QUANTM Irradiation System (QIS) cyclotron, across its new radiopharmacies. Telix inherited the technology from Canadian company ARTMS, which it acquired in March 2024.
The system produces medical isotopes used in Telix’s drug candidates such as zirconium-89 (89Zr), copper-64 (64Cu), and gallium-68 (68Ga). One of Telix’s lead candidates is the US Food and Drug Administration (FDA)-approved Illuccix (gallium-68 gozetotide), used for prostate cancer imaging. Telix was in the news last quarter when it on , citing “market conditions” at the time as the reason.
The company first shared its IPO plans in January 2024 and was predicted to increase up to $232m via American depository shares (ADSs), as per a SEC filing. Despite Telix’s U-turn, 2024 has seen a slow increase in the number of biotechs going public. This includes drugmakers , Zenas BioPharma, and MBX Bio.
