Telix Pharmaceuticals Limited and Regeneron Pharmaceuticals, Inc. announced a strategic collaboration to jointly develop and commercialize next‑generation radiopharmaceutical therapies. The partnership combines Telix’s radiopharmaceutical development platform, global manufacturing capabilities, and supply‑chain infrastructure with Regeneron’s antibody discovery expertise, including bispecific antibodies generated from VelocImmune® mice.
Under the terms of the agreement, Telix will receive an upfront cash payment of US$40 million for access to Regeneron’s antibody portfolio for four initial therapeutic programs. Regeneron retains the option to expand the collaboration to include four additional programs, with additional upfront payments. The parties will share equally in the global commercialization costs and potential profits, while Telix retains the option to co‑promote certain products. The collaboration also includes joint development of diagnostic assets, with Telix leading commercialization and Regeneron receiving a percentage of profits.
The deal positions Telix to accelerate its theranostic pipeline by leveraging Regeneron’s biologics expertise and broadening its therapeutic reach across solid tumor targets. For Regeneron, the partnership marks a significant entry into the radiopharmaceutical space, diversifying its oncology portfolio and creating potential synergy with its existing immunotherapy platform, including the PD‑1 inhibitor Libtayo.
Christian Behrenbruch, Telix’s Group CEO, said, "The collaboration with Regeneron reflects a highly complementary set of capabilities and a unique opportunity to explore what true ‘next‑gen’ biologics‑based radiopharmaceuticals can potentially do for patients. We are well positioned to work toward the shared goal of advancing next‑generation precision radiopharmaceuticals for patients with hard‑to‑treat cancers." John Lin, Senior Vice President of Oncology & Antibody Technology Research at Regeneron, added, "At Regeneron, we follow the science to determine the best therapeutic approach for each disease, continuously expanding our toolbox of treatment modalities – from monoclonal and bispecific antibodies to cell therapies and beyond. Targeted radiopharmaceuticals represent a rapidly emerging frontier in oncology and an exciting opportunity to bring new treatment options to patients in need." Israel Lowy, Senior Vice President, Clinical Development Unit Head, Oncology at Regeneron, noted, "Regeneron is excited to enter the targeted radiopharmaceuticals space and explore the utility of these agents either as monotherapy or rationally combined with our immunotherapy platform, particularly in areas of high unmet patient need such as lung cancer, where our PD‑1 inhibitor is a global standard of care."
The announcement was well received by investors and analysts. Truist Securities highlighted that the collaboration "brings a new leg to REGN’s robust pipeline" and offers additional opportunities for long-term growth in solid tumors.
The partnership underscores Telix’s transition from a diagnostics‑focused company to a full theranostics platform and expands Regeneron's therapeutic portfolio into a rapidly growing radiopharmaceutical market. The collaboration is expected to accelerate product development, enhance both companies’ competitive positioning, and provide a new revenue stream for Telix while diversifying Regeneron’s oncology pipeline.
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