China no slouch either .... Coy announcement 2/11/2020
Imaging Products• Exclusive commercial partnership (sales, marketing, distribution) for Telix’s core imagingproduct portfolio TLX250-CDx for renal cancer, and;o TLX591-CDx (68Ga-PSMA), TLX599-CDx (99Tc-PSMA) for prostate cancer.• Includes minimum annual purchase obligations to maintain Territory exclusivity.1 Territory includes Mainland China, Hong Kong SAR, Macau SAR, Taiwan.Page 2Strategic Equity InvestmentAdditionally, CGP will make a simultaneous one-time strategic equity investment of US$25M(~AU$35M) in Telix. The investment is in the form of a private placement to CGP of 20,947,181 fullypaid ordinary Telix shares representing a post-issue holding by CGP of 7.62%. Shares will be issuedat a price of AU$1.69, based on the 10-day volume-weighted average price (‘VWAP’) for Telix sharesup to and including 28th October 2020. Shares will be issued no later than the 6th November 2020,following receipt of the placement proceeds. Shares issued to CGP are subject to a holding lock andwill not be able to be traded for a period of 12 months from the date of issue. In addition, CGP issubject to a standstill provision and is unable to trade in Telix shares for a period of 12 months.Telix Pharmaceuticals CEO, Dr. Chris Behrenbruch stated, “Telix’s mission is to be a leading globaloncology company and China is an important future market for our products. We are pleased to beworking with CGP to deliver our diagnostic imaging and therapeutic products to cancer patients inChina. Considering the successful acquisition of Sirtex Medical Limited with joint venture privateequity partner CDH Genetech Limited2 and subsequent approval of a New Drug Application filing forSIR-Spheres® by the National Medical Products Administration (NMPA) of the People’s Republic ofChina3, we believe that CGP possesses the technical experience and execution infrastructure to bean ideal clinical and commercial partner for Telix in China.”China Grand Pharmaceutical and Healthcare Holdings Executive Deputy Officer, Mr. Frank Zhouadded, “China Grand Pharma has a strong commitment to oncology, including radioactive products,in China and around the globe. Grand Pharma sees nuclear medicine as the future and has astrategy to build a suite of the world's best products to service the Greater China Region, whichincludes mainland China, Hong Kong SAR, Macau SAR and Taiwan. We firmly believe in thepotential of Telix’s product portfolio to have a significant clinical impact in China. It is an honour forus to have the right to bring Telix's unique product range to our doctors and patients with majorunmet medical needs. At the same time, our close clinical involvement will help bring strength toTelix's product development and reach. We are very excited about this long-term partnership.”About the China OpportunityIn China, an estimated 100,000, 70,000 and 35,000 new diagnoses of prostate cancer, renal cancerand glioblastoma, respectively were made in 2018.4• Prostate cancer: The prevalence of prostate cancer in China is heavily weighted to urban versusrural areas (14/100,000 versus 5/100,000, respectively) and men are first diagnosed with moreadvanced stage disease compared to their Western counterparts (localised; locally advanced;metastatic: 40%; 30%; 30% versus 84%; 12%; 4% in Chinese versus Western men,respectively).5 Consequently, there is a significant unmet need for effective prostate cancerimaging for the improved diagnosis and staging of prostate cancer in China, as well as moreeffective systemic therapies for the advanced forms of the disease.• Renal cancer: Renal cancer is the third most common urologic cancer, after prostate andbladder cancers in China, and most patients are diagnosed as incidental findings from abdominalimaging.6 Similar to Western countries, there are major unmet needs in China for improvementin diagnosis of renal cell carcinoma (typically the most common and aggressive form of kidneycancer) from otherwise indeterminate renal masses using PET imaging, as well as effectivetreatments for advanced (metastatic) forms of this disease.• Glioblastoma: The diagnosis of glioblastoma, the most common type of primary brain cancer istypically considered incurable in China. While surgical resection plus radiation therapy are the2 Source: http://chinagrandpharm.com/history/3 Source: http://www.sirtex.com/au/media/news/news-item?id=387604 Globocan 2018 http://gco.iarc.fr/today/data/factsheets/populations5 Chinese guidelines for diagnosis and treatment of prostate cancer 2018 (English version) National Health Commissionof the People’s Republic of China.6 Globocan 2018 http://gco.iarc.fr/today/data/factsheets/populationsPage 3mainstays of treatment, the vast majority of patients experience disease recurrence. Thus, thereremains a major need for therapies targeted towards glioblastoma in patients in both the frontlinetreatment setting, as well as for patients experiencing disease recurrence following surgicalintervention.7
TLX250-CDx for renal cancer, and;o TLX591-CDx (68Ga-PSMA), TLX599-CDx (99Tc-PSMA) for prostate cancer.• Includes minimum annual purchase obligations to maintain Territory exclusivity.1 Territory includes Mainland China, Hong Kong SAR, Macau SAR, Taiwan.Page 2Strategic Equity InvestmentAdditionally, CGP will make a simultaneous one-time strategic equity investment of US$25M(~AU$35M) in Telix. The investment is in the form of a private placement to CGP of 20,947,181 fullypaid ordinary Telix shares representing a post-issue holding by CGP of 7.62%. Shares will be issuedat a price of AU$1.69, based on the 10-day volume-weighted average price (‘VWAP’) for Telix sharesup to and including 28th October 2020. Shares will be issued no later than the 6th November 2020,following receipt of the placement proceeds. Shares issued to CGP are subject to a holding lock andwill not be able to be traded for a period of 12 months from the date of issue. In addition, CGP issubject to a standstill provision and is unable to trade in Telix shares for a period of 12 months.Telix Pharmaceuticals CEO, Dr. Chris Behrenbruch stated, “Telix’s mission is to be a leading globaloncology company and China is an important future market for our products. We are pleased to beworking with CGP to deliver our diagnostic imaging and therapeutic products to cancer patients inChina. Considering the successful acquisition of Sirtex Medical Limited with joint venture privateequity partner CDH Genetech Limited2 and subsequent approval of a New Drug Application filing forSIR-Spheres® by the National Medical Products Administration (NMPA) of the People’s Republic ofChina3, we believe that CGP possesses the technical experience and execution infrastructure to bean ideal clinical and commercial partner for Telix in China.”China Grand Pharmaceutical and Healthcare Holdings Executive Deputy Officer, Mr. Frank Zhouadded, “China Grand Pharma has a strong commitment to oncology, including radioactive products,in China and around the globe. Grand Pharma sees nuclear medicine as the future and has astrategy to build a suite of the world's best products to service the Greater China Region, whichincludes mainland China, Hong Kong SAR, Macau SAR and Taiwan. We firmly believe in thepotential of Telix’s product portfolio to have a significant clinical impact in China. It is an honour forus to have the right to bring Telix's unique product range to our doctors and patients with majorunmet medical needs. At the same time, our close clinical involvement will help bring strength toTelix's product development and reach. We are very excited about this long-term partnership.”About the China OpportunityIn China, an estimated 100,000, 70,000 and 35,000 new diagnoses of prostate cancer, renal cancerand glioblastoma, respectively were made in 2018.4• Prostate cancer: The prevalence of prostate cancer in China is heavily weighted to urban versusrural areas (14/100,000 versus 5/100,000, respectively) and men are first diagnosed with moreadvanced stage disease compared to their Western counterparts (localised; locally advanced;metastatic: 40%; 30%; 30% versus 84%; 12%; 4% in Chinese versus Western men,respectively).5 Consequently, there is a significant unmet need for effective prostate cancerimaging for the improved diagnosis and staging of prostate cancer in China, as well as moreeffective systemic therapies for the advanced forms of the disease.• Renal cancer: Renal cancer is the third most common urologic cancer, after prostate andbladder cancers in China, and most patients are diagnosed as incidental findings from abdominalimaging.6 Similar to Western countries, there are major unmet needs in China for improvementin diagnosis of renal cell carcinoma (typically the most common and aggressive form of kidneycancer) from otherwise indeterminate renal masses using PET imaging, as well as effectivetreatments for advanced (metastatic) forms of this disease.• Glioblastoma: The diagnosis of glioblastoma, the most common type of primary brain cancer istypically considered incurable in China. While surgical resection plus radiation therapy are the2 Source: http://chinagrandpharm.com/history/3 Source: http://www.sirtex.com/au/media/news/news-item?id=387604 Globocan 2018 http://gco.iarc.fr/today/data/factsheets/populations5 Chinese guidelines for diagnosis and treatment of prostate cancer 2018 (English version) National Health Commissionof the People’s Republic of China.6 Globocan 2018 http://gco.iarc.fr/today/data/factsheets/populationsPage 3mainstays of treatment, the vast majority of patients experience disease recurrence. Thus, thereremains a major need for therapies targeted towards glioblastoma in patients in both the frontlinetreatment setting, as well as for patients experiencing disease recurrence following surgicalintervention.7
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