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China Grand Pharma in $340 Million Deal for Telix's Radiation Products

publication date: Nov 2, 2020

China Grand Pharma announced a $340 million agreement to develop and commercialize Telix Pharma's molecularly-targeted radiation products in China. An Australian company, Texix has developed molecularly-targeted cancer imaging and therapeutic radiation products for prostate, renal and brain (glioblastoma) cancers. China Grand Pharma will make a $25 million upfront payment, invest $25 million in Telix, commit $65 million for clinical development costs, and pay up to $225 million in milestones, plus royalties. More details....

Stock Symbols: (HK: 512) (ASX: TLX)

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