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Summary
- ASX-listed biopharmaceutical player Telix Pharmaceuticals announced a strategic collaboration agreement with Palo Alto-based Varian Medical Systems on 3 September.
- Through the collaboration, the two parties will evaluate the use of advanced prostate cancer imaging within Varian’s radiation treatment planning platform.
- Following the announcement, Telix’s share price closed 7.602% higher. However, the share price declined on 4 September and stood at A$1.180, a drop of 1.63%.
- On 1 September, Telix partnered with IRE Elit S.A. for the distribution of TLX591-CDx, its prostate cancer imaging product, in France and its overseas territories.
- In late August, the US FDA had granted Orphan Drug Designation to TLX’s TLX102 for multiple myeloma treatment.
ASX-listed cancer company Telix Pharmaceuticals Limited (ASX:TLX) is gaining attention this week on the back of some recent vital announcements.
On 3 September 2020, Telix announced that the Company had entered a strategic partnership with Palo Alto-based Varian Medical Systems for advanced prostate imaging. Before that, on 31 August 2020, TLX stated that US FDA had granted Orphan Drug Designation to TLX102 for the treatment of multiple myeloma.
Following the collaboration announcement on 03 September 2020, TLX share price ended the day’s trade at A$1.840, up 7.602%. However, the stock fell on 4 September to close at A$1.810, down 1.63%. The market capitalisation of TLX stood at A$467.26 million. TLX shares generated a positive return of 36.80% in the last six months.
About the Company
ASX listed clinical-stage healthcare player Telix Pharmaceuticals Limited is focused on the developing diagnostic and therapeutic products by utilising MTR (molecularly targeted radiation). Melbourne-headquartered Company has its international operations across Belgium, Japan, and the United States.
The Company is into developing a portfolio of clinical-stage oncology formulations to address significant unmet medical needs in the brain, kidney, and prostate cancer.
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Let us discuss in detail what is latest for ASX-listed cancer player Telix Pharmaceuticals-
Strategic Collaboration with Palo Alto-based Varian Medical Systems
On 3 September 2020, Telix Pharma stated that the Company had entered a strategic partnership with Palo Alto-based Varian Medical Systems. This collaboration is aimed at assessing the advanced prostate cancer imaging within the radiation treatment planning platform of Varian Medical Systems.
Under the terms of the agreement, both the parties shall leverage extensive clinical data of Telix for imaging prostate-specific membrane antigen (PSMA) with positron emission tomography (PET).
The collaboration would potentially create new image-guided therapy planning functions, automated analysis, and artificial intelligence (AI) capabilities within radiation treatment planning technology platforms of Varian.
The partnership will aid in ensuring that the newest standard of care in prostate imaging is capable of being an integral part of radiation treatment planning.
Telix CEO Dr Christian Behrenbruch stated-
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Distribution Partnership with IRE Elit to distribute TLX591-CDx
On 1 September 2020, Telix Pharmaceuticals disclosed that it had entered into an exclusive distribution agreement with Fleurus-based IRE Elit S.A. to distribute its prostate cancer imaging product TLX591-CDx (68Ga-PSMA-11). TLX591-CDx is a radiopharmaceutical used for metastatic prostate cancer imaging.
As per the terms of this agreement, IRE Elit has been chosen as the exclusive commercial distributor of TLX591-CDx in France and French overseas territories. The deal holds good during both the initial period of temporary authorisation and after the full European marketing authorisation grant (expected in 2021).
Telix Pharma added that the improved diagnostic information the product shall provide French clinicians to manage prostate cancer patients truly aligns with the stated mission of IRE ELiT to help patients to stay healthy.
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Orphan drug designation (ODD) for TLX102
On 31 August 2020, Telix Pharmaceuticals disclosed that the US FDA had granted Orphan Drug Designation to TLX102 for the treatment of multiple myeloma. With the grant of this Orphan Drug Designation (ODD), TLX102 is qualified for numerous incentives related to drug development. The incentives may include seven years FDA-administered market exclusivity, waived FDA prescription drug user fees, along with tax credits for R&D and clinical development costs.
TLX102 has already demonstrated favourable efficacy in standard pre-clinical models of multiple myeloma and is anticipated to be evaluated in humans in the second half of 2021.
The Company stated that TLX102 is an example of TAT (Targeted Alpha Therapy) that represents the forefront of radiopharmaceutical development. Telix has one of the most significant R&D pipelines for TAT with isotopes like astatine and actinium.
This internally-directed research & development program is the outcome of 2-years of partnership with the University of Nantes and the ARRONAX cyclotron facility in France & Osaka University in Japan. The collaboration has developed the in-licensing of substantial new intellectual property (IP) to further augment Telix’s potential upcoming product development pipeline.
On this Orphan Drug Designation, Dr Christian Behrenbruch stated-
Bottomline
Telix Pharmaceuticals has made three significant announcements during the week, including an Orphan Drug Designation granted by the FDA for TLX102. The stock has gained attention from market participants with a favourable share price movement for TLX in the last five days.
