Australia's Telix Pharmaceuticals agreed on Sept 20-21 to acquire ITM Isotope Technologies Munich for $1.65bn upfront on a cash-free, debt-free basis, plus up to $700m in milestones.
Deal terms and financing
ITM holders are set to receive about $1.25bn in Telix shares after adjustments and will own about 23.7% of Telix; Telix assumes about $302m of net debt.
Regulatory approvals and timing
Closing is expected by the end of 2026, subject to Telix shareholder and regulatory approvals.
Market context
It was the biggest biotech deal of September and extends consolidation in radiopharmaceuticals, where isotope supply is a bottleneck.
