Mauna Kea Technologies and Telix Pharmaceuticals to Expand Partnership in Uro-oncologic Surgery
November 13 2023 - 2:19AM
Business Wire
Builds on existing research collaboration
for precision surgery in urology
Telix Pharmaceuticals to acquire a ~19%
stake in Mauna Kea Technologies through a €6 million equity
investment
Regulatory News:
Telix Pharmaceuticals Limited (ASX: TLX, Telix) and Mauna Kea
Technologies (Euronext Growth: ALMKT, Mauna Kea), today
announced an expansion of the IRiS (Imaging and Robotics in
Surgery) Alliance through a strategic €6 million investment of
Telix in Mauna Kea Technologies to develop new hybrid
pharmaceutical-device products through the combination of Telix’s
cancer-targeting agents with Mauna Kea’s Cellvizio® surgical
endomicroscopy platform. Telix’s investment in Mauna Kea will
further support the development of advanced imaging techniques for
minimally invasive (laparoscopic and robotic) surgery, with
specific focus on urologic oncology.
Telix is a global, commercial-stage biopharmaceutical company
focused on the development and commercialisation of diagnostic and
therapeutic radiopharmaceuticals and associated medical devices.
Telix’s deep pipeline for prostate, kidney, brain (glioma),
hematologic cancers, and rare diseases is underpinned by a reliable
and secure global supply chain, manufacturing and distribution
network. Telix has received global regulatory approvals from the
Australian Therapeutic Goods Administration (TGA), the US Food and
Drug Administration (FDA), and Health Canada for its prostate
cancer imaging agent, Illuccix®, and has more than 20 clinical
trials underway worldwide.
This strategic investment of Telix in Mauna Kea is highly
synergistic with Telix’s current diagnostic radiopharmaceutical
portfolio as well as with its recent Lightpoint Medical and
Dedicaid GmbH acquisitions.
Indeed, when used pre-operatively, Telix’s radiopharmaceutical
imaging agents such as TLX591-CDx (Illuccix®) or TLX250-CDx
potentially enable improved surgical planning to determine the
location and extent of disease. Lightpoint’s SENSEI®, a
radio-guided surgical probe works in conjunction with suitable
cancer-seeking radiotracer agents to enable the intra-operative
detection of cancer during a surgical intervention to help
accurately answer the question, “where is the cancer?” In a
complementary fashion, Mauna Kea’s Cellvizio platform enables
highly localised tissue visualisation through endomicroscopic
fluorescence detection to potentially define and confirm surgical
margins in real-time.
Reflecting a shared commitment to building a long-term clinical
and commercial partnership, Telix has agreed to invest 6 million
euros to acquire 11 911 852 new ordinary shares of Mauna Kea. The
new shares are issued by the board of directors of Mauna Kea at a
price of 0,5037 euro per share, reflecting a 10% premium over the
last 10-day VWAP, in a reserved capital increase pursuant to the
21st resolution of the combined shareholders’ meeting held on June
2, 2023. Following closing on 17 November 2023, Telix will own
19.33% of the share capital and 19.01% of the voting rights of
Mauna Kea.
Dr Christian Behrenbruch, Managing Director and Group CEO of
Telix commented: “We are committed to expanding this
partnership, which brings together the cutting-edge technologies in
targeted radiation, radio-guided surgery and real-time in vivo
cellular imaging our respective companies are developing. This
further enhances our differentiated and innovative offering in
urology and continued commitment to engaging with key opinion
leaders in the field to deliver significant improvements in
surgical techniques and clinical outcomes, in order to improve the
lives of the patients we serve.”
Sacha Loiseau, Ph.D., Chairman and CEO of Mauna Kea
Technologies, added: “I am very pleased to welcome Telix, a
global leader in theranostic radiopharmaceuticals and precision
medicine, as a key Mauna Kea shareholder, another major milestone
on our strategic partnership roadmap. For many years, Telix and
Mauna Kea have shared the vision of linking our two complementary
technologies. Our Cellvizio in vivo cellular visualisation platform
is an enabling technology across a range of clinical indications
that can use molecular imaging to guide surgical intervention in
real-time and it is very complementary to Telix’s portfolio of
late-stage radiopharmaceutical diagnostics, surgical and AI tools,
which combined may create a powerful suite of solutions to help
surgeons perform more precise tumour resections and address some of
the most complex issues in uro-oncologic treatment. I am very
pleased to see our existing partnership deepen and to have the
opportunity to advance our shared vision at a moment when
image-guided surgical technologies are developing rapidly and the
need for advanced solutions has never been greater.”
In the absence of a public offering, no prospectus will be
established in France or outside of France in connection with
Telix’s investment in Mauna Kea.
About Telix Pharmaceuticals Ltd
Telix is a biopharmaceutical company focused on the development
and commercialization of diagnostic and therapeutic
radiopharmaceuticals and associated medical devices. Telix is
headquartered in Melbourne, Australia with international operations
in the United States, Europe (Belgium and Switzerland), and Japan.
Telix is developing a portfolio of clinical-stage products that
aims to address significant unmet medical needs in oncology and
rare diseases. Telix is listed on the Australian Securities
Exchange (ASX: TLX). For more information, visit
www.telixpharma.com
About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company that
manufactures and sells Cellvizio®, the real-time in vivo cellular
imaging platform. This technology uniquely delivers in vivo
cellular visualization which enables physicians to monitor the
progression of disease over time, assess point-in-time reactions as
they happen in real time, classify indeterminate areas of concern,
and guide surgical interventions. The Cellvizio® platform is used
globally across a wide range of medical specialties and is making a
transformative change in the way physicians diagnose and treat
patients. For more information, visit www.maunakeatech.com.
Disclaimer
This press release contains forward-looking statements about
Mauna Kea Technologies and its business. All statements other than
statements of historical fact included in this press release,
including, but not limited to, statements regarding Mauna Kea
Technologies’ financial condition, business, strategies, plans and
objectives for future operations are forward-looking statements.
Mauna Kea Technologies believes that these forward-looking
statements are based on reasonable assumptions. However, no
assurance can be given that the expectations expressed in these
forward-looking statements will be achieved. These forward-looking
statements are subject to numerous risks and uncertainties,
including those described in Chapter 3 of Mauna Kea Technologies'
2022 Universal Registration Document filed with the Autorité des
marchés financiers (AMF) on June 28, 2023 under number D-23-0545,
which is available on the Company's website (www.maunakeatech.fr),
as well as the risks associated with changes in economic
conditions, financial markets and the markets in which Mauna Kea
Technologies operates. The forward-looking statements contained in
this press release are also subject to risks that are unknown to
Mauna Kea Technologies or that Mauna Kea Technologies does not
currently consider material. The occurrence of some or all of these
risks could cause the actual results, financial condition,
performance or achievements of Mauna Kea Technologies to differ
materially from those expressed in the forward-looking statements.
This press release and the information contained herein do not
constitute an offer to sell or subscribe for, or the solicitation
of an order to buy or subscribe for, shares of Mauna Kea
Technologies in any jurisdiction. The distribution of this press
release may be restricted in certain jurisdictions by local law.
Persons into whose possession this document comes are required to
comply with all local regulations applicable to this document.
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Telix Pharmaceuticals Limited Ms. Kyahn Williamson SVP
Corporate Communications and Investor Relations
kyahn.williamson@telixpharma.com
Mauna Kea Technologies NewCap - Investor Relations
Aurélie Manavarere / Thomas Grojean +33 (0)1 44 71 94 94
maunakea@newcap.eu investors@maunakeatech.com
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