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Australia's Telix Pharma buys radioisotope production technology firm ARTMS for $42.5 M

06 March 2024 | News

To enhance the vertical integration of Telix's supply chain and manufacturing

Image credit: shutterstock

Image credit: shutterstock

Australia-based Telix Pharmaceuticals has entered into an agreement to acquire radioisotope production technology firm ARTMS Inc., its advanced cyclotron-based isotope production platform, manufacturing plant and stockpile of ultra-pure rare metals required for consumable target production.

ARTMS, based in Burnaby, British Columbia (BC), Canada, is a privately held, venture-backed company, which specialises in the physics, chemistry and materials science of cyclotron-produced radionuclides. A spin-out company from the internationally renowned TRIUMF, Canada's particle accelerator centre, ARTMS is a commercial-stage company: its technology is used by the major manufacturing networks to optimise production of a range of medical radioisotopes.

The acquisition of ARTMS is expected to further enhance the vertical integration of Telix's supply chain and manufacturing by providing a greater level of control and security over each of the Company's diagnostic isotopes.

ARTMS' core technology platform is based on the QUANTM Irradiation System (QIS), a complete cyclotron-based isotope production system that is designed to support high efficiency and cost-effective production of commercially important medical isotopes including zirconium-89 (89Zr), gallium-68 (68Ga), technetium‐99m (99mTc) and copper-64 (64Cu).

As part of the acquisition, Telix will also acquire the benefit of ARTMS's production facility and clean rooms, located in Burnaby, BC (Canada). Telix expects to continue to operate and expand ARTMS' R&D and production capabilities at the Burnaby location to support in-house and customer needs, subject to applicable laws and transaction terms.

 

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