Biopharmaceutical company Telix Pharmaceuticals (ASX: TLX) has teamed up with the largest private provider of oncology services in Australia and Europe, GenesisCare, to accelerate access to new treatments for cancer patients.
The Melbourne-based company today announced the strategic collaboration, comprising three aspects.
Firstly, the pair have established a preferred clinical provider relationship to run radiation oncology studies in Australia for the inclusion of patients into Telix’s multi-centre trials in neuro-oncology and urologic oncology.
The second collaboration area involves Telix providing compassionate use access to its glioblastoma (brain cancer) therapy program across its extensive patient network.
In addition, the partners plan to jointly explore the commercial potential of Telix’s products in China.
Improving health outcomes of cancer patients
Telix is a fairly new company, having only established in January 2017 to rectify deficiencies in the radiopharmaceutical landscape relating to late-stage product development.
In a nutshell, its mission is to help cancer patients live longer and with better quality lives.
The company is developing a portfolio of clinical-stage oncology products to address significant unmet medical needs specifically in prostate, renal (kidney) and glioblastoma. These products are based on targeted radiopharmaceuticals or “molecularly-targeted radiation”.
GenesisCare delivers treatment to people with cancer and heart disease and is currently leading or participating in more than 100 clinical trials across Australia and Europe (particularly the UK and Spain). It also offers cardiology and sleep services in Australia.
According to Telix chief executive Christian Behrenbruch, Telix’s products are a “natural fit for the GenesisCare clinical network, both in terms of trials to support product development but also eventual product roll-out”.
“GenesisCare is a unique organisation that has both patient access and geographic reach in radiation oncology,” he said.
GenesisCare chief executive Dan Collins said the strategic collaboration was a way to advance clinical trials and make proven new treatments available more quickly.
“Healthcare access for all is also very important to us, and the compassionate use program as part of this agreement will be life-changing for the patients involved,” Collins added.
Telix has made a string of deals and partnerships in recent months.
In July, it secured a definitive commercial manufacturing partnership with JFE Engineering Corporation in Japan to produce zirconium, a key isotope used in Telix’s TLX250 renal cancer imaging product.
In August, Telix inked a commercial partnership with radiopharmaceuticals supplier Nihon Medi-Physics Co, focusing on the commercialisation of the TLX250 program in Japan.
Earlier this month, the company announced it had struck a distribution deal with US medicine provider Cardinal Health (NYSE: CAH) to prepare and distribute an imaging cold kit specifically developed for use in prostate cancer trials.
According to Telix, this deal puts the company in a position to play a key role in the clinical development and adoption of prostate cancer imaging in the US – a market estimated to be worth around $500 million.
Telix is headquartered in Melbourne, Victoria and has international operations in Brussels, Kyoto in Japan, and Indianapolis, US. The company listed on the Australian Securities Exchange in November last year at $0.65 per share, current shares in Telix are trading at $0.795 a share.