Telix to acquire ITM in deal worth up to $2.35bn

Telix Pharmaceuticals, an Australian pharmaceutical company, entered into an agreement to acquire ITM Isotope Technologies Munich for total consideration reaching up to $2.35bn. The transaction combines Telix’s existing pharmaceutical operations with ITM’s radioisotope manufacturing business and late-stage drug candidate ITM-11.
The deal structure involved an upfront payment of $1.65bn on a cash-free, debt-free basis, with additional contingent payments of up to $700m tied to regula