Oz firms GenesisCare, Telix to bring radiopharmaceuticals to China



Australian biopharma firm Telix Pharmaceuticals Ltd (ASX.TLX) and the China-owned, Australia-based private care provider GenesisCare Pty Ltd announced a long-term collaboration deal that will include exploring the introduction of Telix’s products to China.

Telix develops targeted radiopharmaceuticals or “molecularly-targeted radiation” (MTR) diagnostic and therapeutic products, including a portfolio of clinical-stage oncology products targeting renal, prostate, and brain (glioblastoma) cancer. Under today’s partnership, they will work on developing Telix’s products in the China market. In addition, GenesisCare will be the preferred partner for Telix’s global clinical trials, and the two will establish a compassionate-use access program.

GenesisCare became a Chinese-owned entity in July 2016, when China Resources Group and Macquarie Capital bought 56% of the company in a deal that valued the company at around USD 1.3 billion. The firm runs 12 cancer treatment centers in the UK, 21 in Spain, 30 in Australia, and has 20 more under development, in addition to dedicated cardiology and sleep service centers in Australia.
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