Health Check: Telix to acquire next-gen therapeutics and biologics platform

Telix enters into an asset purchase agreement with antibody engineering company ImaginAb.

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• Telix enters into asset purchase agreement with antibody engineering company ImaginAb

• Lumos joins forces with MedPro for national contract sales coverage of FebriDx in US 

• 4D Medical secures US Department of Defense contract to supply CT Ventilation-Perfusion (CT:VQ) scans

Radiopharmaceuticals company Telix Pharmaceuticals (ASX:TLX) is acquiring a pipeline of next-generation therapeutic candidates, a proprietary novel biologics technology platform, and a protein engineering and discovery research facility from antibody engineering company ImaginAb.

The deal adds a pipeline of early-stage drug candidates against high-value targets including DLL31 and integrin αvβ6 2, as well as several other novel targets in discovery stage.

These treatments use small engineered antibody formats that enable highly specific cancer targeting, combined with fast tumour uptake and blood clearance.

It’s a technology that has the potential to be highly effective for imaging and treating tumours with a broad range of radioisotopes.

Telix said these drug candidates fit synergistically with Telix’s therapeutics pipeline, enabling expansion to future therapy areas with unmet clinical need.

The transaction also includes a high-tech research facility in California staffed by a team of discovery, protein engineering and radiopharmaceutical development experts.

"The combination of a proprietary drug discovery platform, pipeline of promising theranostic assets and a talented team of subject matter experts will enhance Telix’s research and innovation capability now and into the future," TLX CEO Richard Valeix said.

"This acquisition will enable Telix to explore new disease areas with state-of-the-art radiotherapeutic technology."

ImaginAb co-founder and board member Dr Anna Wu says there’s a “significant need” for targeting agents to be more selective, deliver less off-target radiation, and better match the pharmacology and radiobiology of a given radionuclide.

"The team’s deep expertise in antibody engineering and the resulting development of a valuable, proprietary platform technology has led to clinical proof-of-concept," she said.

"Telix is the right partner to unlock the future therapeutic potential of this platform."

The purchase price is US$45 million (AU$73m), comprising a US$10m in cash and US$31m in equity at closing, and a deferred payment of up to US$4 million in equity at the conclusion of a 15-month indemnity period.

There are also key development and commercial milestones, royalty payments as well as single-digit sublicense fees.

Lumos to expand US reach of point-of-care respiratory test

Lumos Diagnostics (ASX:LDX) has partnered with MedPro Associates to provide national contract sales in the US for its rapid point-of-care (POC) FebriDx test that uses a fingerstick blood sample to aid in the differentiation between bacterial and non-bacterial acute respiratory infections.

MedPro will offer contract sales coverage across the health system, government and physician offices in the US and serve as an extension of its salesforce with more than 60 territory reps strategically positioned across the country to increase FebriDx awareness and adoption.

Under the partnership, MedPro will also provide customer lead generation, sales revenue, and customer training for FebriDx with the collaboration expected to make an immediate impact on Lumos' US footprint.

Lumos said MedPro’s reach into acute care encompasses both the US hospital environment and the federal government including Department of Defense, Veterans Affairs, Department of Health and Human Services – Indian Health Services and Federal Bureau of Prisons hospitals.

The company said the MedPro team builds relationships with decision makers and drives successful product conversions for enhanced patient care.

In the non-acute care setting, MedPro services Physician Offices, Ambulatory Surgery Centers, Skilled Nursing Facilities, and Home Health Agencies.

"Their familiarity with US healthcare markets coupled with their strong customer relationships and business development expertise makes them an excellent partner," Lumos CEO and managing director Doug Ward said.

Billion dollar opportunity with US DoD

AI medical tech company 4D Medical (ASX:4DX) has won a contract with the US Department of Defense (DoD) to supply CT Ventilation-Perfusion (CT:VQ) scans to assess lung health in a fixed cohort of on 80 active-duty personnel.

This comes ahead of the company’s FDA submission and builds on the previous successful DOD pilot of CT Lung Ventilation Analysis Software (CT LVAS).

It’s a billion-dollar opportunity to provide faster, safer and more accessible healthcare, the company says, with this pilot study to displace the one million Nuclear VQ scans performed each year in the U.S.

The DoD operates one of the largest and most comprehensive healthcare systems in the world, serving over 9.6 million active-duty service members, their families, and retirees across the Military Health System (MHS).

4DX’s innovative non-invasive imaging solution will provide unparalleled insights into ventilation and perfusion abnormalities, assisting in the early detection and monitoring of a wide range of pulmonary conditions including COPD and chronic thromboembolic hypertension.

It also provides clinicians with comparable diagnostic insights while eliminating the need for radioactive isotopes and other expensive infrastructure requirements.

"This new contract underscores the value of 4DMedical's imaging solutions in addressing the unique health challenges faced by service members," 4DX MD and CEO and founder Andreas Fouras said.

"We look forward to working closely with the DoD to deliver actionable insights that contribute to the readiness and well-being of the US Armed Forces.

"CT:VM is set to disrupt a billion-dollar segment of respiratory diagnostics by displacing Nuclear VQ imaging with a technology that is faster, safer, cheaper, more convenient and more accessible.

"We have been working for some time, leveraging hard-fought experience with existing products, to build an aggressive market adoption strategy, and this contract win with the DoD, prior to FDA clearance, is testament to that work and the clear competitive advantages of our product."

At Stockhead we tell it like it is. While Lumos Diagnostics is a Stockhead advertiser at the time of writing, it did not sponsor this article. 

Originally published as Health Check: Telix to acquire next-gen therapeutics and biologics platform