• Telix acquires clinically validated FAP-targeting therapeutic and diagnostic radiopharmaceutical candidates
• Adds lead FAP-targeting compound TLX400 to pipeline, focusing on bladder cancer and pan-cancer opportunities
• Differentiated assets with extended tumor retention and minimized off-target uptake

Telix Pharmaceuticals Limited (ASX: TLX, Nasdaq: TLX) has completed the transaction to expand its theranostic pipeline with new candidates targeting Fibroblast Activation Protein (FAP), a promising pan-cancer target in nuclear medicine. In November 2024, Telix announced the acquisition of a suite of clinically validated FAP-targeting therapeutic and diagnostic radiopharmaceutical candidates, developed by Professor Frank Rösch and his team at the Johannes Gutenberg-Universität Mainz, Germany. Telix has added the lead FAP-targeting therapeutic compound, TLX400, to its pipeline and is building out a theranostic development program in bladder cancer, as part of the Company's urology focus, as well as exploring its potential as a pan-cancer therapeutic across multiple solid tumor indications. The acquired assets are differentiated by a novel structure that drives extended tumor retention while minimizing off-target uptake, potentially overcoming the limitations of first-generation compounds. The diagnostic and therapeutic compounds have been clinically validated in over 500 patients across a variety of solid tumors and are the subject of multiple peer-review publications. Telix will pay up to €132 million in milestone payments related to the development and regulatory approval of the diagnostic and therapeutic candidates, as well as royalties on net sales of the diagnostic product and an earlier formulation of the therapeutic product.

Telix is now focused on using the acquired FAP-targeting compounds to build out its urology franchise and explore pan-cancer opportunities, with the goal of bringing new theranostic solutions to physicians and their patients.