Telix announces major acquisition of Canadian-based ARTMS

Telix (ASX:TLX) will acquire radioisotope production technology firm ARTMS, its advanced cyclotron-based isotope production platform, manufacturing plant and a stockpile of ultra-pure rare metals required for consumable target production.

ARTMS, based in Canada, is a privately held, venture-backed company specialising in the physics, chemistry and materials science of cyclotron-produced radionuclides.

A spin-out company from the internationally renowned TRIUMF, Canada’s particle accelerator centre, ARTMS is a commercial-stage company. The significant manufacturing networks use its technology to optimise production of a range of medical radioisotopes.

Telix said the acquisition is expected to further enhance the vertical integration of its supply chain and manufacturing by providing greater control and security over each of its diagnostic isotopes.

ARTMS’ core technology platform is based on the QUANTM Irradiation System (QIS). QIS is a complete cyclotron-based isotope production system designed to support high efficiency and cost-effective production of commercially critical medical isotopes including zirconium-89 (89Zr), gallium-68 (68Ga), technetium‐99m (99mTc) and copper-64 (64Cu).

Telix will also acquire ARTMS’s production facility and clean rooms located in Canada. Telix said it expects to continue to operate and expand ARTMS’ R&D and production capabilities to support in-house and customer needs, subject to applicable laws and transaction terms.

Telix managing director and CEO Dr Christian Behrenbruch said, “ARTMS has been a trailblazer in the field of ‘next generation’ cyclotron-based isotope production systems and demonstrated production efficiency and yields that eclipse comparable systems.

“It is our hope that by closely aligning this powerful technology with pharmaceutical development, we will transform the cost, market access and utility of diagnostic and therapeutic radiopharmaceuticals.

“Cyclotron and accelerator-based isotope production has the potential to significantly increase the capacity and lower the cost of commercially important isotopes, serving as an important adjunct to reactor-based production. We are pleased to be able to expand a fruitful collaboration into a deeper partnership.”

ARTMS CEO Doug Gentilcore added, “Our aim has always been to ensure key isotopes are available on demand to the populations that need them most, and joining forces with Telix is the ideal way to realise this ambition. With Illuccix®, Telix has the most used 68Ga-based imaging agent on the U.S. market, and an additional follow-on 89Zr based product candidate – Zircaix. Our long-term goal is therapeutic radionuclides and together with Telix we believe we have the opportunity to deliver these potentially at commercial scale, including through their extensive late-stage product pipeline.”

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