Telix Pharmaceuticals and PI Medical Sign Distribution Agreement for the Netherlands

MELBOURNE, Australia and RAAMSDONKSVEER, Netherlands, July 02, 2019 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals Limited (ASX.TLX) ("Telix”, the "Company”), a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or "molecularly-targeted radiation” (MTR) has today announced the appointment of Netherlands-based PI Medical Diagnostic Equipment B.V. ("PI Medical”) as a distribution partner for the TLX591-CDx (⁶⁸Ga-PSMA-11) cold kit.

Peter Liedorp, Managing Director of PI Medical stated, "Telix’s products are an excellent fit with the PI Medical portfolio and our management team’s expertise in nuclear medicine. Our theranostic product experience includes gallium-based products and the use of therapeutic isotopes, particularly Lutetium-177. We are pleased to be Telix Pharmaceuticals’ partner in the Netherlands.”

Telix Pharmaceuticals VP Corporate Development, Ludovic Wouters, added "We have been informally working with PI Medical for several months and we are pleased to establish a more concrete commercial relationship with an initial focus on commercial availability of PSMA imaging cold kit. The PI Medical team is well recognised in their domestic market for their nuclear medicine expertise and this is a great opportunity for Telix to access the Dutch market with the support of such a proven partner.”

The agreement structure is a multi-product agreement that initially grants exclusive rights to the distribution of the TLX591-CDx (⁶⁸Ga-PSMA-11 kit) in the Netherlands and non-exclusive distribution rights for the Flemish region of Belgium. 

About Telix Pharmaceuticals Limited

Telix Pharmaceuticals Limited (Telix) is a global biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or "molecularly-targeted radiation” (MTR). The company is headquartered in Melbourne with international operations in Brussels (EU), Kyoto (JP) and Indianapolis (US). Telix is developing a portfolio of clinical-stage oncology products that address significant unmet medical need in renal, prostate and brain (glioblastoma) cancer. Telix is listed on the Australian Securities Exchange (ASX: TLX). For more information visit www.telixpharma.com. 

About PI Medical Diagnostic Equipment BV

PI Medical was founded in 1995 with a focus on products for the nuclear medicine, radiology and radiotherapy market and a strong commercial track-record. In January 2017, as part of a corporate restructuring, a new Board of Directors was appointed with the mandate to specifically focus on diagnostic and therapeutic nuclear medicine. Since then, the company has broadened its product portfolio to include radioactive sources for the calibration of nuclear imaging cameras, as well as the distribution brachytherapy products. In December 2018 PI Medical received ISO9001:2015 certification. 

Important Information

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933 (the "US Securities Act”), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold within the United States, unless the securities have been registered under the US Securities Act or an exemption from the registration requirements of the US Securities Act is available. None of the products described in this release have obtained a marketing authorisation in the Netherlands, Belgium or any jurisdiction.