Telix to acquire ITM Isotope Technologies in $1.65 billion radiopharma merger

ITM Isotope Technologies Munich SE and Telix Pharmaceuticals announced a merger that will combine two leading radiopharmaceutical developers.

The transaction is valued at a minimum of $1.65 billion, with an additional $700 million possible if ITM's lead drug achieves regulatory approval and sales targets.

The new company will add a well-capitalized competitor to a market currently dominated by Novartis, which launched two radiopharma treatments in 2018 and 2022.