Daily Roundup

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Livium and Mineral Resources Agree Next Steps for LieNA® Commercialisation

Livium Ltd and Mineral Resources Ltd have reached an agreement on the next steps for the commercialisation of Livium's patented LieNA® lithium extraction technology. The companies have completed initial pilot plant development and engineering work, and are now planning additional activities to optimise the commercialisation pathway.

Considering current lithium market conditions, Livium and Mineral Resources will undertake further Stage 1A activities, including assessing alternate commercialisation options and selecting the preferred lithium product, potentially including battery-grade lithium carbonate. These activities will be fully funded through Mineral Resources' convertible note and LieNA® R&D tax incentive rebates. To allow for the completion of Stage 1A, the companies have extended the maturity date of the convertible note to September 2025.

The collaboration between Livium and Mineral Resources continues as they progress towards licensing the LieNA® technology to third-party operators, targeting a headline gross product royalty rate of 8%. The larger-scale plant will aim to extract lithium salt at a commercial scale under the licence, with Mineral Resources having the option to independently fund, develop, and operate the semi-commercial facility.

Spartan Resources Delivers Stellar Quarterly Update

Spartan Resources Ltd has reported an outstanding quarterly update, highlighted by a substantial 16% increase in the Mineral Resource estimate for its Dalgaranga Gold Project to 2.87 million ounces at 5.61 grams per tonne. This includes a 99% increase in the high-grade Pepper deposit to 873,400 ounces at 10.31 g/t.

The company also made a significant new discovery at the Freak prospect, located just 110 metres south of the Pepper deposit, with multiple high-grade intersections. Importantly, Spartan has received all necessary approvals to commence underground mining and processing of ore at Dalgaranga.

Spartan's exploration success and operational progress have positioned the company well to transition Dalgaranga into a long-life, high-grade underground mining operation. The company recently completed a $220 million capital raise to fund development and exploration activities.

Telix to Acquire Next-Gen Therapeutics and Biologics Platform

Telix Pharmaceuticals Limited has announced the acquisition of a pipeline of next-generation therapeutic candidates, a proprietary novel biologics technology platform, and a research facility from ImaginAb, Inc. This transaction will expand Telix's capabilities in antibody engineering and preclinical development.

The acquired assets include a pipeline of early-stage drug candidates targeting high-value cancer targets, as well as a state-of-the-art research facility in California and a talented team of experts in discovery, protein engineering, and radiopharmaceutical development. These additions will enhance Telix's research and innovation capabilities, enabling the company to create the next generation of precision medicine and therapeutic products.

The combination of the novel drug discovery platform, promising theranostic assets, and experienced team will further strengthen Telix's position as a leading radiopharmaceutical company, allowing it to explore new disease areas with state-of-the-art radiotherapeutic technology.

FBR Receives A$6.3 Million R&D Tax Incentive Cash Rebate

FBR Limited, a robotic technology company, has received a A$6.3 million R&D tax incentive cash rebate from the Australian Taxation Office. The company will use these funds to repay its R&D revolving tax loan facility and retain A$2.0 million in cash.

Additionally, FBR has received the final tranche of US$400,000 from CRH Ventures following the completion of the United States Demonstration Program, as announced in December 2024.

The R&D tax incentive cash rebate and the funds from CRH Ventures will provide FBR with the necessary resources to continue its research and development activities as it progresses its robotic technology solutions.

Telix Outlines 2025 Roadmap with Multiple Near-Term Catalysts

Telix Pharmaceuticals presented its outlook for 2025 at the JP Morgan Healthcare Conference, showcasing the company's strong commercial performance and deep theranostic pipeline with multiple near-term catalysts.

Telix reported unaudited FY2024 revenue of US$517 million, a 55% increase year-over-year, exceeding its previous guidance. The company is advancing a robust pipeline, with plans to target three assets in pivotal trials in 2025, focusing on urology, neuro-oncology, and musculoskeletal oncology.

Telix is also preparing for multi-product launches in the US market, including imaging agents for kidney cancer, prostate cancer, and glioma. The company's late-stage therapeutic pipeline, including assets for prostate cancer, renal cell carcinoma, and glioblastoma, also hold significant promise.

Telix's strong commercial record, deep pipeline, and manufacturing capabilities position the company well to meet the growing global demand for its radiopharmaceutical products and drive continued growth in 2025 and beyond.

Telix Exceeds FY24 Guidance with US$142M Q4 Revenue

Telix Pharmaceuticals has reported strong Q4 2024 revenue of US$142 million, a 46% increase over the prior year, and exceeded its full-year FY2024 revenue guidance with US$517 million.

The company's revenue is predominantly generated from sales of its diagnostic radiopharmaceutical Illuccix for prostate cancer PET imaging. Telix also made significant progress in its therapeutics pipeline during Q4 2024, advancing key assets such as TLX591, TLX250, and TLX101 towards pivotal trials.

In addition to its commercial success, Telix continued to expand its precision medicine business, submitting a Biologics License Application for its renal cancer imaging candidate TLX250-CDx and having its New Drug Application for brain cancer imaging candidate TLX101-CDx accepted by the FDA with a Priority Review.

Telix is well-positioned for significant expansion, including planned launches of multiple imaging products in key markets and advancing late-stage therapeutic assets into pivotal trials. 2025 is shaping up to be a transformative year for the company.

Civmec Provides Update on Luerssen Australia Ownership Transfer

Civmec Limited has provided an update on the Heads of Agreement for the transfer of ownership of Luerssen Australia Pty Ltd to Civmec. The parties have made positive progress with the due diligence process and have agreed to a revised Effective Date for the transfer to be on or before 1 July 2025.

In the meantime, Civmec and Luerssen Australia have entered into a Service Level Agreement to immediately implement program efficiencies and cost reductions on the SEA 1180 project to build Arafura Class Offshore Patrol vessels for the Royal Australian Navy. Under this agreement, Civmec will provide Luerssen Australia with shipbuilding services and operational support, allowing the parties to combine their capabilities effectively.

The successful transfer of ownership will ensure the continued design and construction of the Arafura Class Offshore Patrol vessels at the Osborne South shipyard in South Australia and Civmec's facility in Henderson, Western Australia.