Telix to Acquire QSAM Biosciences, Bolstering Bone Cancer Targeting

08 February 2024 | Thursday | News

Telix Pharmaceuticals Limited (ASX: TLX) has finalized an agreement to acquire QSAM Biosciences, Inc. (U.S. OTC: QSAM), marking a significant expansion of its therapeutic offerings. The acquisition includes QSAM's lead investigational drug, Samarium-153-DOTMP (153Sm-DOTMP), a promising candidate for treating primary and metastatic bone cancer.
Image Source : Public Domain

Image Source : Public Domain


153Sm-DOTMP utilizes a cutting-edge chelating agent to deliver Samarium-153 radioisotope, offering potential advancements in bone cancer treatment. With applications in pain management for bone metastases and osteosarcoma therapy, the acquisition aligns closely with Telix's focus areas in urologic oncology, neuro-oncology, and musculoskeletal oncology.

Pre-clinical and early clinical trials have shown promising results for 153Sm-DOTMP, demonstrating safety, efficacy, and commercial potential. The therapy boasts improvements over existing treatments, including a better safety profile, targeted delivery, and streamlined production.

Telix's Managing Director and Group CEO, Dr. Christian Behrenbruch, highlighted the strategic significance of the acquisition, emphasizing the potential for rapid commercialization due to the therapy's Orphan Drug and Rare Pediatric Disease Designations from the U.S. FDA.

The acquisition deal involves an upfront payment of US$33.1 million (AU$50.8 million), along with contingent payments totaling up to US$90 million (AU$138 million) based on clinical and commercial milestones. Completion of the transaction is subject to customary conditions, including regulatory approvals.

Telix's acquisition of QSAM Biosciences underscores its commitment to innovation in radiopharmaceuticals and expands its portfolio to address critical unmet needs in oncology, particularly in bone cancer treatment.

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