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Telix Pharmaceuticals to buy TheraPharm to expand hematology portfolio

Telix Pharmaceuticals to buy TheraPharm to expand hematology portfolio
Telix Pharmaceuticals to buy TheraPharm to expand hematology portfolio

In recent developments, Australian clinical-stage biotechnology company Telix Pharmaceuticals Limited has reportedly entered a joint venture contract with Scintec Diagnostics GmbH for the acquisition of TheraPharm GmbH.

For the uninitiated, TheraPharm is a Swiss-German biotechnology firm that offers innovative therapeutic and diagnostic solutions in the field of hematology. The company specializes in the research, development, and production of monoclonal antibodies used for various applications including diagnostics of inflammatory diseases & bone marrow metastases, targeted radiation of hematopoietic non-malignant and malignant diseases, and treatment of lymphoproliferative diseases.

As per credible sources, the recent acquisition will allow Telix Pharmaceuticals to leverage TheraPharm’s production technologies, and expertise pertaining to the use of MTR (Molecularly Targeted Radiation) in immunology and hematology.

If reports are to be believed, TheraPharm is currently working on developing antibody MTR technology for CD66, a member of the carcinoembryonic antigen family that is expressed by tumor-infiltrating lymphocytes and neutrophils. This technology has widespread applications in the diagnosis and treatment of immune-mediated diseases, lymphoproliferative disorders, and other hematologic ailments such as blood cancer.

Dr. Klaus Bosslet, Co-founder and Managing Director of TheraPharm was reported saying that the company, in association with Dr. Kim Orchard from the University of Southampton, has made significant progress in the development of 90Y-besilesomab for treating hematologic cancers as well as similar conditions including amyloidosis and leukemia.

CEO of Telix Pharmaceuticals, Dr. Christian Behrenbruch mentioned in a comment that the acquisition drives the company’s commitment towards improving the lives of patients with serious conditions such as hematologic cancer. Telix will leverage TheraPharm’s MTR technologies to achieve an authoritative status in radiochemistry, antibody engineering, and bone marrow conditioning (BMC) and stem cell transplantation, he added.

About Telix Pharmaceuticals Limited

Telix is a clinical-stage biopharmaceutical organization which focuses on developing therapeutic and diagnostic medical products using MTR (Molecularly Targeted Radiation) technology.

The Melbourne-headquartered company, with international operations in the U.S., Japan and Belgium, also provides oncology products in order to address the unmet medical needs of patients with brain, kidney and prostate cancer.

Source credits: https://www.globenewswire.com/news-release/2020/11/30/2136034/0/en/Telix-Pharmaceuticals-Limited-Acquires-TheraPharm-GmbH-Broadening-Reach-to-Hematologic-Cancers-and-Transplant-Medicine.html

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A qualified computer graduate, Bhushan Tambe always nurtured a passion for words. Post his education, he decided to transform his penchant of penning down poetry and stories into a full-time career. Presently, Bhushan writes numerous articles for cuereport.com and a few other websites, on subjects spanning business, finance, and the like.