Telix Pharmaceuticals to buy ITM Isotope for $1.6B

 Australian company Telix Pharmaceuticals Ltd. announced on Monday that it is acquiring biotech firm ITM Isotope Technologies Munich SE for $1.6 billion in 105.8 million Telix shares. Telix also committed to assuming $302 million of net debt, while agreeing to up to $700 million in milestone payments to ITM.

"We have enjoyed a close working relationship with ITM for many years and there is strong management alignment for the rationale behind this transaction. By combining our complementary strengths, we will create a company with commercial scale, world-leading supply and the most exciting theranostic drug portfolio in the sector," Telix CEO Christian Behrenbruch said. The transaction is expected to close by the end of fiscal 2026. On completion, Telix shareholders will own around 76.3% of Telix shares, while ITM shareholders will own around 23.7%.

https://breakingthenews.net/Article/Telix-Pharmaceuticals-to-buy-ITM-Isotope-for-dollar1.6B/67139695