Telix to acquire Germany's ITM for $1.65 billion, aiming to dominate radiopharmaceutical market

Telix, an Australian radiopharmaceutical diagnostics company, announced it will purchase German developer ITM in a cash transaction valued at $1.65 billion upfront.

The agreement gives Telix the option to pay an additional $700 million if ITM’s lead candidate, ITM‑11, meets predefined approval and sales milestones, potentially expanding the total consideration.

After the deal closes, Telix shareholders will own roughly 76 % of the combined entity, with the remaining shares held by ITM investors. The transaction has been approved by Telix’s board and by holders of more than 90 % of ITM’s stock and is expected to close by the end of Telix’s 2026 fiscal year.

Industry observers say the merger could create a leading platform for radiopharmaceutical development, a fast‑growing segment of cancer therapy that delivers radioactive agents directly to tumors.