Telix Pharmaceuticals has announced an agreement to acquire a pipeline of therapeutic assets and a biologics technology platform from California-based antibody engineering company ImaginAb.

The deal, valued at up to $230 million, includes early-stage drug candidates targeting DLL3 and integrin αvβ6, alongside other discovery-stage assets. These candidates are designed for cancer imaging and treatment using radiopharmaceuticals, particularly alpha emitters. ImaginAb’s technology uses small engineered antibody formats for precise tumor targeting and efficient blood clearance, which complements Telix’s current pipeline.

Telix, headquartered in Melbourne, develops therapeutic and diagnostic radiopharmaceuticals addressing oncology and rare diseases, with operations across the U.S., Europe, and Asia.
As part of the agreement, Telix will acquire ImaginAb’s research facility and a team of specialists in antibody engineering and radiopharmaceuticals. Telix CEO Richard Valeix highlighted the deal’s potential to enhance the company’s research and expand into new therapeutic areas.

The purchase price includes $10 million in cash and $31 million in equity, with a deferred $4 million payment. Milestone payments could total an additional $185 million, some of which may be paid in equity. The deal also includes royalties on net sales of certain products and sublicense fees.

ImaginAb will focus on its lead imaging candidate, CD8 ImmunoPET, currently in Phase 2 trials and licensed for use in oncology immunotherapy trials.

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