ImaginAb, Inc. Innovative Biologics Technology platform acquired by Telix to enable Next-Generation Therapeutic Assets discovery
Rhea-AI Summary
ImaginAb has agreed to sell its next-generation therapeutic candidates, proprietary biologics technology platform, and protein engineering facility to Telix Pharmaceuticals (ASX: TLX; Nasdaq: TXL). Post-transaction, ImaginAb will focus on developing its CD8 ImmunoPET imaging candidate, currently in Phase 2 clinical trials and licensed by multiple pharmaceutical companies for immunotherapy imaging trials. The company will also continue developing its Phase 2 prostate cancer imaging agent.
The transaction validates ImaginAb's minibody platform technology, which will enable Telix to explore new disease areas with radiotherapeutic technology. The CD8 platform development will continue, with multiple pharmaceutical companies already incorporating the technology in their immuno-oncology clinical trials. Jefferies and Stifel, Nicolaus & Company served as financial advisors for the transaction.
Positive
- Strategic sale of therapeutic pipeline and technology platform to established pharmaceutical company
- Continued development and existing licenses of CD8 ImmunoPET imaging candidate in Phase 2 trials
- Multiple pharmaceutical partnerships already using the technology in clinical trials
- Retained development rights for Phase 2 prostate cancer imaging agent
Negative
- Divestment of key technology platform and research facility may limit future growth opportunities
News Market Reaction 1 Alert
On the day this news was published, TLX gained 1.07%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Following the closing of this transaction, ImaginAb Inc., will focus on developing its lead imaging candidate, CD8 ImmunoPET, which is currently in Phase 2 clinical trials and has been licensed by numerous pharmaceutical and biotech companies for use in imaging within immunotherapy clinical trials, primarily in oncology. In addition, ImaginAb will continue to partner in advancing the pivotal prostate cancer imaging agent, which is currently being evaluated in Phase 2 clinical trials and as a surgical resection tool.
Dr. Anna Wu, Founder of ImaginAb, commented, "We are very pleased that Telix recognizes the potential of our novel biological technology platform including enabling Telix to explore new disease areas with state-of-the-art radiotherapeutic technology. These radiopharmaceutical agents represent the culmination of significant effort and resources by our scientific team. I extend my congratulations to everyone at ImaginAb for reaching this significant milestone. This transaction further validates our novel minibody platform."
Dr. Wu continued, "With the sale of our radiopharmaceutical platform, ImaginAb will continue the development of its CD8 platform. We are encouraged that numerous pharmaceutical and biotech companies have incorporated our technology in their immuno-oncology clinical trials."
Jefferies LLC and Stifel, Nicolaus & Company, Incorporated served as financial advisors to ImaginAb on the transaction.
About ImaginAb, Inc.
ImaginAb, Inc. is a clinical stage, revenue-generating global biotechnology company developing the next generation of radiopharmaceutical and imaging agent products. These patented products contain engineered antibodies that maintain the specificity of full-length antibodies while remaining biologically inert in the body. Used with widely available positron emission tomography (PET) and optical imaging technology, these novel targeting agents are able to bind specifically to cell surface targets.
The company is backed by top tier venture capital firms and strategic corporate firms including, Adage Capital, The Cycad Group, Norgine Ventures, Innoviva, Jim Pallotta of the Raptor Group, The Parker Institute for Cancer Immunotherapy, and Merck (MSD) Pharma. For more information about ImaginAb's pipeline and technology, visit www.imaginab.com.
About CD8 ImmunoPET
The 89Zr CD8 ImmunoPET technology (zirconium Zr 89 crefmirlimab berdoxam) is a [89Zr]-labelled minibody that binds the CD8 receptor on human T cells and is used for quantitative, non-invasive PET imaging of CD8+ cells in patients. CD8+ cells are the main effector cells involved in the immune response against tumor cells induced by immunotherapies and they also play a key role in multiple autoimmune diseases. As such, quantitative imaging of CD8+ cells can be used to diagnose the immune status of a patient, to measure the efficacy of immunotherapies and predict patient outcomes.
About Optical PSMA
The Optical PSMA Imaging Agent (IR-800 IAB2 Minibody) is a fluorescent labelled minibody that binds the PSMA receptor present on cancer cells including prostate cancer and is used for quantitative, non-invasive PET imaging of PSMA+ cells in patients undergoing surgery to remove cancerous tissue . As such, imaging of PSMA + cells may be used to guide clinicians during surgery to identify cancerous tissue and aid tissue resection.
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SOURCE ImaginAb, Inc.
FAQ
What assets did Telix (TLX) acquire from ImaginAb in January 2024?
What products will ImaginAb retain after the Telix (TLX) acquisition?
How many clinical trials is ImaginAb's CD8 ImmunoPET technology currently involved in?
What is the current development stage of ImaginAb's prostate cancer imaging agent?
