Telix Pharmaceuticals Limited (ASX: TLX), a Melbourne, Australia-based biopharmaceutical company, acquired Dedicaid GmbH, a spin-off of the Medical University Vienna (Austria).
The purchase price is comprised of €1.1M upfront, paid in equity, and a further €1.1M earn-out subject to the achievement of regulatory approval in the U.S., and which is payable in cash or equity, at Telix’s election.
With the acquisition, Telix will accelerate the development of its AI platform denoted as Telix AI, by adding predictive capabilities alongside the imaging analysis module, being developed in partnership with Invicro LLC, which automates the classification of lesions to support standardisation in the imaging workflow.
Following completion of the transaction, Telix aims to finalise validation activities and regulatory submissions (United States Food and Drug Administration (FDA) 510(k) and CE Mark (Europe)) for the AI platform as a ‘software as a medical device’ during 2023.
Led by CEO Thomas Beyer, Dedicaid provides a clinical decision support software (CDSS) AI platform capable of rapidly generating indication-specific CDSS applications from available datasets, for use with positron emission tomography (PET) and other imaging modalities. Each CDSS application is trained to predict outcomes such as the severity of disease, risk to the patient and/or inform treatment decisions.
Telix is a biopharmaceutical company focused on the development and commercialisation of diagnostic and therapeutic radiopharmaceuticals. It is developing a portfolio of clinical-stage products that aims to address significant unmet medical need in oncology and rare diseases. The company’s lead product, Illuccix® (gallium-68 (68Ga) gozetotide (also known as 68Ga PSMA-11) injection), has been approved by the U.S. Food and Drug Administration (FDA), and by the Australian Therapeutic Goods Administration (TGA), and by Health Canada. Telix is also progressing a marketing authorisation application for this investigational candidate in the United Kingdom. The company has international operations in the United States, Europe (Belgium and Switzerland), and Japan.
FinSMEs
27/04/2023