Telix and Regeneron Pharmaceuticals have entered a partnership worth up to $4.3bn for the development and commercialisation of new radiopharmaceutical therapies.
This collaboration aims to integrate Telix's expertise in radiopharmaceutical platforms, global manufacturing and supply chain infrastructure with Regeneron's biologics knowledge, particularly in bispecific antibody discovery.
Regeneron will initially provide Telix with an upfront cash payment of $40m for access to the latter’s radiopharmaceutical manufacturing platform for four therapeutic initiatives.
There is an option for Regeneron to expand to another four programmes, which would involve further upfront payments, with the agreement reaching a value of $4.3bn if this part of the deal is exercised. Both companies will equally share the costs and potential profits worldwide, with Telix optionally co-promoting certain products.
Telix has the potential to receive up to $2.1bn in development and commercial milestone payments through the initial four programmes, along with low double-digit royalties.
If the company chooses to step back from funding a specific programme, it could gain up to $535m in these milestones, in addition to royalties on subsequent net sales.
Regeneron oncology and antibody technology research senior vice-president John Lin said: “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.”
The collaboration will include several solid tumour targets from Regeneron's antibody portfolio, benefiting from its VelocImmune mice technology.
It reflects a joint focus on precision oncology, seeking to enhance patient selection and assess treatment responses through new radio-diagnostics.
The companies also plan to develop diagnostic assets, where Telix will spearhead the commercialisation efforts, and Regeneron will receive a predetermined share of the profits.
In December 2025, Regeneron teamed up with Tessera Therapeutics to develop and commercialise Tessera’s rare disease in vivo gene writing programme, TSRA-196.
