Commercial-stage biopharmaceutical company Telix Pharmaceuticals Limited announced on Sunday that it has entered into an asset purchase agreement with ImaginAb, Inc. to acquire a portfolio of next-generation therapeutic candidates, proprietary biologics technology and a research facility specializing in protein engineering and discovery.

This acquisition strengthens Telix's innovation capabilities with early-stage drug candidates targeting high-value areas such as DLL3 and integrin αvβ6, complementing its existing pipeline. The intellectual property includes small engineered antibodies for precise cancer targeting, offering potential for improved imaging and treatment across a range of radioisotopes, including alpha emitters.

Included in the transaction is a California-based research facility with expertise in discovery, protein engineering and radiopharmaceutical development. These assets enhance Telix's in-house capacity to advance its preclinical and biologics platforms, enabling future precision medicine and therapeutic product development.

The USD45million purchase price consists of USD10m in cash, USD31m in equity, and up to USD4m in deferred equity payments, with potential milestone-based payments up to USD185m. Royalties on net sales and sub-licensing fees are included, with upfront equity subject to escrow restrictions. Completion is subject to regulatory approvals and other conditions, with no guarantee on timing or terms.