I think vertical integration/ development can be over-rated...

I think vertical integration/ development can be over-rated .

This is the short answer.

Including especially wrt us here as CU6 shareholders.

Certainly nearterm and at the stage we are at.

AT is wise in his direction & as stated by others here. (inc @ma420 just above you)

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A longer answer -

(And —-Can it also be arguable, that the obvious stubborn growth ambitions, for acceleratedrevenue growth, directionally to firmly establish company’s position with their existing nuclear tech diagnostics capabilities & hoped for treatment tech as announced today by Telix MD, though I note fairly easily achieved and value accretive immediately— but can be actually increases therisksfor their holders ??Esp with time, if really wedded to nuclear isotopes technologies?Though yes nuclear be utilised ongoing, is how currently is how seen to be . )

Firmly the goal appears to be, as previously wrt Telix - Fast development now.

That must quickly capitalise on the specific advantages and position gained that company holds, and also building out broadening pipelines diagnostically,as well as in things that ‘can do to people’ in treatment , inc to be fair also including future technology changes & including copper isotopes also in treatment.

In all - importantly:

*Must never forget the risks*

*Risks increase with rapid growth and expansion - where also commits the company to a focused path of treatment in which can be a leader, but also then now expanding to service and cater to distribution and quality control & enactment nuclear isotopes to the greater industry and other participants, as well as to own company.

If this makes sense ?

(Although for sure to be successful as aimed ongoing, in the US primarily first- they need to have secure nuclear isotopes supply and distribution. )

US and other government’s policies for securing supplies nuclear isotopes elements will be important.

Currently the enrichment for is not occurring locally, a global shortage constraint with issues with nuclear element imports.

eg,there is a global shortage for gallium for instance.

China also recently ceased exports of enriched gallium, as well as the Russian import bans.

China has been receiving increased uranium and nuclear elements from Russia due to global bans elsewhere, & correspondingly had increased their exports of whilst also producing their own domestically.

This has now been being recognised and investigated by the US.

Arguably.

Though now China announced cessation of gallium exports, highly relevant for nuclear radiopharmaceuticals supplies.

Novatis had to regretfully announce that they cannot fulfil the demand for nuclear radiopharmaceuticals treatment due to inability to source enough supplies.

Most importantly I think —

“Always leave yourself open to futureadvances in technology”

(minimise anything irreversible as treatment, repair and sustain to get further years down the track, if is not terminal at least .. don’t do anything too significant until very much needed. )

At present for sure, nuclear radiopharmaceuticals as are , can be the best chance an advanced cancer patient have, & earlier intervention and treatment would be by far preferred.

(Really this is only in prostate cancer at present.)

Novartis the only approved radiopharmaceutical treatment, with expanded cancers treatment very much an imperative.

But the radiopharmaceutical treatment is not really yet available.

No reimbursement under Medicare here and really it is only in the US unless can luckily access a medical trial.

This I used to say through years & often to patients , to dissuade them from major treatments as they had perceived they needed to “fix” themselves somehow .

‘Always leave yourself open to future advances intreatment’-

*And best diagnosis is assumed in this. *

That is too-

“Aboveall - A Diagnosis.”

And then individuals ..with good advice hopefully, can decide ‘what’ to do — but please ensure that there has been thorough good examination & tests and checking, and a diagnosis first.

And want trusted medical professional oversight.

*Prevention , & avoidance of harm also no1. *

Risks with today’s actions from other company - is blindly committing to medium to longterm allegiance to their main existing technology , and path.

With capital allocation shareholders funds and company’s revenues, and as main directional development goals & rhetoric.

With even a degree of vehemence towards their development of diagnostics and treatment as the standard & superior.

Conviction being demonstrated here by Telix management.

*Radiopharma to me— is only yet in its very infancy.*

As yet really only approved for prostate cancer.

Most patients who can benefit are in a waiting situation-for further treatments to be possible for them, and their cancers.

-Selected immunotherapies if can have efficacy to reduce their cancer tumours burden,

—& chemotherapy.

And additional immunotherapy treatment say if it is working, possibly other experimental treatments if appropriate, + chemotherapy- as tolerated & if keeping cancer in control.

—Contemplation of radiation treatments - weighing up benefits to harmful risks.

There are the entire list of other cancers which are currently incurable, beyond prostate cancer alone, as current only with an approved radiopharmaceuticals treatment at present.

Dire metastatic cancers not fully treatable. -Renal , brain, as examples,+ aggressive cancers with secondaries to organs and bone and brain

Treatment as is now - is with hope, but if not initially successful also with great harm and heartbreaking or not good outcomes.

To solve this - requiresmuchlarger, hugely greater thinking and planning inc with global view.

(than just what Telix is acquiring capabilities and capacity in America for now)

I am not original with my quote that “vertical integration is overrated”- this was to me a poignant statement quote that heard in a podcast over the weekend, with very reasoned explanation.

Was important thinking to me and I listened to it a few times over.

*Mostly - to do with the global view for ultimately a technology or products availability, and for what will be longterm superior. *

In any field or major global trend, for what will happen and ‘be’ with time in the years ahead —

*clear costs & regional advantages with development has to occur* .

(or it is generally too expensive and service for can only be limited in an area ongoing, & it requires premium pricing, as is often the case initially in early years of any technology or treatment -all whilst other which become better, & cheaper, and more practical and with more able to be developed technology, is being developed and evolving. )

Plus there are all of the many regional factors, too numerous fully, but with regional industry and government regulatory acceptance & approvals , and need to add in reimbursement level for medical treatments and diagnostics.

In the end there will be only a few significant global entities at most, as the leaders.

The majors -will decide.

With how they also then choose to develop and focus resources to grow and longterm lead.

“If you need a premium to maintain early established position -- longterm you will not be able to compete. “

Must be a very big player indeed to lead ongoing.

IF - vertically integrated development.

Of course however -

Telix also might get taken over

They are aiming to stake claim + secure position in the game, (a word I do not like at all), as it is for them now anyway.

Try to gain and then maintain their ‘business positioning’.

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I also have no real idea- I’m not running the companies or in midst of understanding all.

Clarity , CU6 - has been greatly focused always through the past over 10 years, and seeking not to be too complicated now.

Utterly methodical & careful. Taking the time as required and necessary at every step.

Great care also in the development first of the ligand ‘cage’ tech, to be leading and greatly superior to carry radiopharmaceutical isotopes, to targeted cancer cells.

CU6 dedicated to —

“Above all do no/ or minimised harm” .

With - *Safety no1 *

CU6 is now proving and ethically stress testing every step of the Copper isotope patient dosings and regime, with the patients and loved ones & their treating doctors- excellent patient:doctor relationships prioritising.

Best to understand also the full effects of the treatment totally- as well as on killing and elimination of metastatic cancers. And saving the patients lives and their quality of life and themselves ongoing into survival .

And to be best understood by the doctors, medical reimbursement approvals and regulators system.

And to be accessible & priced to best be possible to be accessed by global cancer patients who can be best served and saved with radiopharmaceutical diagnosis and treatments in cancer.

CU6 radiopharmaceutical diagnostic without doubt is atm exponentially superior in detecting any cancers present .

CU6 is seeking to be not only superior, better, more possible and accessible longterm as radiopharmaceutical treatment for dire cancers- above all also safer.

Will I hope at minimum be the cheaper plus more functional and practical diagnosis -with CU6 developed copper isotope radiopharmaceutical

And CU6 direction prove to be the safer delivery, and the 1,2 step :diagnosis and treatment pathway —

Arguably to be then the choice with radiopharmaceuticals for treatment if possible, but with copper isotopes.

Best safety— radiopharmaceuticals, utilising copper isotope agent delivered to target cancer tumours, as treatment for a broad number of at present terrible untreatable fully, cancers.

Not meaning to fully negate as yet , or negate how nuclear isotopes can be utilised.

CU6 unique highly developed ligand ‘cage’ molecular technology- to me the best in class globally whether delivering a nuclear or a copper isotope radiopharmaceutical agent to cancer target cells.

Better by far ..and more especially if treating with a nuclear isotope radiopharma agent , like Telix is securing production & delivery of, across states in the US anyway.