Telix Pharmaceuticals has signed a licence to obtain exclusive global rights for the development and commercialisation of radiolabelled forms of Company鈥檚 olaratumab antibody for cancer treatment and diagnosis.
Lilly originally developed olaratumab as a non-radiolabelled monoclonal antibody that acts on Platelet Derived Growth Factor Receptor Alpha (PDGFR伪).
With the worldwide licence, Telix could repurpose olaratumab as a targeting agent for cancer treatment and radiopharmaceutical imaging.
As per the deal, Telix will pay $5m (AU$6.7m) upfront to Lilly for the exclusive licence to the latter鈥檚 intellectual property linked to the radiolabelled olaratumab development.
Telix will have access to use the product in pre-clinical as well as early-phase clinical trials for potential diagnosis and treatment of cancers in humans.
Furthermore, on meeting pre-specified development, regulatory and commercial goals, Lilly is entitled to receive up to $225m (~AU$301m) in milestone payments from Telix, which will also make royalty payments on net product sales.
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By GlobalDataIn the initial stage, Telix will focus on developing the antibody for soft tissue sarcoma (STS), a rare kind of cancer.
The deal also provides Lilly with an option to potentially obtain an exclusive licence to a Telix-developed radiolabelled companion diagnostic.聽
If Lilly decides to exercise the option, the company will make a payment of $5m (~AU$6.7m) to Telix. In addition, Telix is eligible for up to $30m (~AU$40.1m) in potential development milestone payments as well as royalty payments.
Telix Group CEO and managing director Dr Christian Behrenbruch said: 鈥淚n our pre-transaction diligence and research, we have identified that a radiolabelled version of olaratumab could be efficacious in patients with STS, particularly as it is a highly radiation-sensitive cancer.
鈥淲e anticipate that early clinical translation with a radiolabeled olaratumab as an imaging agent may also provide valuable clinical information as to whether this asset has potential therapeutic efficacy, demonstrating the advantage of Telix鈥檚 鈥榯heranostic鈥� approach.鈥�
