Full-Life Technologies has signed an agreement for the acquisition of US-based Focus-X Therapeutics to expand its peptide-focused radiopharmaceutical pipeline.
Focus-X works on developing targeted radiopharmaceuticals based on peptide engineering technology for treating cancer.
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This takeover will bolster the pipeline of Full-Life, offer a second peptide-based discovery platform and utilise the Radio Technology manufacturing and logistics platforms of Focus-X to progress compounds into clinics.
According to the deal, Focus-X shareholders are entitled to receive an upfront payment, potential development, and regulatory and sales-based milestones of up to $245m, in addition to royalties on any commercial sales.
Additionally, Full-Life will make royalty payments to Focus-X on any commercial sales.
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The purchase will expedite the transformation of Full-Life into a clinical-stage radiopharmaceutical firm, using its radiotechnology and development platform focused on the European region.
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By GlobalDataThe deal is anticipated to conclude in the first quarter of next year.
Full-Life co-founder, chairman and CEO Lanny Sun said: “The Focus-X acquisition perfectly leverages Full-Life’s radiotechnology and development platform by adding two development-ready compounds, including a lead with initial human data, a robust pipeline and world-class peptide discovery capabilities.”
Established in 2020, Focus-X has a proprietary engineering platform that aids in developing peptide radioligands that offer alpha or beta emitters to disintegrate deoxyribonucleic acid (DNA) of the cancer cell.
The company’s pipeline currently has two lead compounds, which are set to enter clinical trials.
These compounds, a prostate-specific membrane antigen (PMSA)-targeted peptide and a neurotensin receptor type 1 (NTSR1)-targeted peptide, are being developed to treat metastatic castration-resistant prostate cancer and pancreatic cancer, respectively.
In addition to these peptides, the company has six other programmes in the initial developmental stage.
