Telix Pharmaceuticals and China Grand Pharma Announce Strategic Licence and Commercial Partnership for Greater China Market

MELBOURNE, Australia and HONG KONG, Nov. 02, 2020 (GLOBE NEWSWIRE) — Telix Pharmaceuticals Limited (ASX: TLX, ‘Telix’, the ‘Company’) announces it has entered into a strategic licence and commercial partnership with China Grand Pharmaceutical and Healthcare Holdings Limited (‘China Grand Pharma’) for Telix’s portfolio of Molecularly-Targeted Radiation (‘MTR’) products.

Telix has appointed China Grand Pharma as its exclusive partner for the Greater China market (‘Territory’)1 and grants China Grand Pharma exclusive development and commercialisation rights to Telix’s portfolio of prostate, renal and brain (glioblastoma) cancer imaging and therapeutic MTR products in the Territory.

Leveraging off China Grand Pharma’s capabilities and infrastructure in China, Telix will enter a significant oncology market, and by partnering with Telix, China Grand Pharma will build on its pipeline of innovative products for Greater China, as well as its strategy in Nuclear Medicine.

The material terms of the partnership include:

Therapeutic Products

  • US$25M (~AU$35M) up-front non-refundable prepayment to Telix, to be credited against future regulatory and commercial milestone payments.

  • Up to US$225M (~AU$315M) in regulatory and commercial milestone payments to Telix, across Telix’s existing therapeutic products portfolio.

  • Program-related investment estimated at up to US$65M (~AU$90M) for clinical costs associated with the development of the therapeutic products in the Territory, to align with Telix’s global clinical development programs.

  • Royalties on therapeutic product sales in the Territory, in addition to milestone payments.

Imaging Products

  • Exclusive commercial partnership (sales, marketing, distribution) for Telix’s core imaging product portfolio:

    • TLX250-CDx (89Zr-Girentuximab) for renal cancer, and;

    • TLX591-CDx (68Ga-PSMA), TLX599-CDx (99Tc-PSMA) for prostate cancer.

Strategic Equity Investment

Additionally, China Grand Pharma 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 China Grand Pharma of 20,947,181 fully paid ordinary Telix shares representing a post-issue holding by China Grand Pharma of 7.62%. Shares will be issued at a price of AU$1.69, based on the 10-day volume-weighted average price (‘VWAP’) for Telix shares up to and including 28th October 2020. Shares will be issued no later than November 06 2020, following receipt of the placement proceeds. Shares issued to China Grand Pharma are subject to a holding lock and will not be able to be traded for a period of 12 months from the date of issue. In addition, China Grand Pharma is subject 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 global oncology company and China is an important future market for our products. We are pleased to be working with China Grand Pharma to deliver our diagnostic imaging and therapeutic products to cancer patients in China. Considering the successful acquisition of Sirtex Medical Limited with joint venture private equity partner CDH Genetech Limited2 and subsequent approval of a New Drug Application filing for SIR-Spheres® by the National Medical Products Administration (‘NMPA’) of the

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Middlesex Integrative Medicine Announces Grand Opening for Their Norwood Retail Location This Saturday

NORWOOD, Mass. – October 16, 2020 – ( Newswire.com )

Middlesex Integrative Medicine (MIM) announces it will host a grand opening for their Norwood retail location at 76 Astor Avenue, this Saturday, Oct. 17, 2020, from 10:00 a.m. to 6:00 p.m.

Nancy Koury, President of MIM, said the company is eager for Saturday’s grand opening, representing the successful culmination of several years of a combined effort between MIM, CCC, and the Town of Norwood. “We have collaborated with officials from the Town of Norwood, its residents, and local businesses through every step of this process,” said Nancy. “It’s vital to us that we show our appreciation for the approval to operate here, by taking steps to be a responsible and valuable member of this community, including a commitment to local hiring and by creating a retail establishment that adds value to Norwood.”

To help ensure their visitors’ health and safety, MIM’s leadership decided to forgo a traditional ribbon-cutting ceremony that typically draws large crowds, making it harder for the staff to enforce the state’s social distancing protocols. Instead, MIM plans on celebrating its grand opening by offering first-time patients a 20% discount on their purchase, along with other specials advertised on their website.

Even without the traditional opening activities, word of MIM’s presence has already spread through the local community. Mighty Mystic, a Jamaican-born, Boston-based reggae artist, dropped by MIM for a surprise visit. Later he posted several pictures and videos on his social media channels saying MIM was “Medical marijuana on the highest levels!”

Eddie Bartlett, General Manager for the Norwood dispensary, said, “Our team is extremely excited to open the doors to medical patients in Norwood and the surrounding towns. MIM’s knowledgeable staff focuses on providing education and guidance, resulting in exceptional patient experience. Having grown up in Norwood, I am proud to serve area patients while giving back to the community that means so much to me.”

MIM produces its products at the company’s cultivation center in Leominster, MA. Completed in late 2019, this 24,000 square-foot facility includes a state-of-the-art extraction lab where cannabis experts cultivate and develop innovative products from numerous strains of flower offering MIM patients a wide range of cannabis solutions to meet their health and wellness goals.

Greg DeConciliis, MIM’s Chief Operations Officer, shared some additional insight. “It’s important to us that every patient understands the how and why of cannabis, so they feel confident and empowered about making decisions that can improve the quality of their life in very tangible ways.”

To ensure this goal is met, MIM’s website offers an online assessment tool that helps match patients with the best strains and products for their individual needs. The site also allows patients to pre-order products for a faster, more convenient patient experience. 

For more information visit http://www.mimrmd.com.

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Media Contact:

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Lisa Woodford

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Press Release Service by Newswire.com

Original Source: Middlesex Integrative Medicine Announces Grand Opening for Their Norwood Retail Location This Saturday

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