• Telix and Regeneron to co-develop and co-commercialize next-generation radiopharmaceutical therapies
• Collaboration combines Telix's expertise in radiopharmaceutical development and manufacturing with Regeneron's antibody discovery/development platforms and oncology experience
• Telix to receive US$40 million upfront for four initial programs with optionality to co-fund commercialization and profit-share or earn up to US$2.1 billion in milestones plus royalties

Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX) and Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) have announced a collaboration to jointly develop and commercialize next generation radiopharmaceutical therapies. The collaboration combines Telix's radiopharmaceutical development platform, global manufacturing capabilities and supply chain infrastructure with Regeneron's extensive biologics expertise, including bispecific antibody discovery. The collaboration will include multiple solid tumor targets from Regeneron's portfolio of antibodies, generated from VelocImmune® mice. With a shared commitment to precision oncology, the parties also plan to develop radio-diagnostics to support patient selection and treatment response assessment. Under the terms, Telix will receive an upfront cash payment of US$40 million from Regeneron for access to its radiopharmaceutical manufacturing platform for four initial therapeutic programs, with Regeneron having the option to expand to include four additional programs. Telix and Regeneron will share equally in the global commercialization costs and potential profits, with Telix retaining the option to co-promote certain potential products. Should Telix opt-out of the co-funding model for a particular program, it is instead eligible to receive up to US$535 million in development and commercial milestones, plus low double-digit royalties on future net sales, for that program.

Telix and Regeneron will share equally in the global commercialization costs and potential profits from the collaboration.

The collaboration combines Telix's radiopharmaceutical expertise with Regeneron's antibody technologies and oncology portfolio, representing an opportunity to advance next-generation precision radiopharmaceuticals for patients with hard-to-treat cancers.