China Grand Pharmaceutical and Healthcare Holdings Limited has signed a A$400 million licence and strategic commercial partnership with Telix Pharmaceuticals Limited, an Australian biotech firm.
The partnership grants China Grand Pharma exclusive development and commercialisation rights to Telix's diagnostic and therapeutic Molecularly Targeted Radiation products in Greater China. These include prostate, renal and brain (glioblastoma) cancer imaging and therapeutic products.
China Grand Pharma will also make a A$35 million strategic equity investment in Telix.
Partnering with Telix will enable China Grand Pharma to build on its pipeline of innovative products for Greater China, and strengthen itsnuclear medicine strategy.
'China Grand Pharma has a strong commitment to oncology in China and around the globe,' says Frank Zhou, Executive Deputy Officer, China Grand Pharma.
'China Grand Pharma sees nuclear medicine as the future and has a strategy to build a suite of the world's best products to service the Greater China region.We firmly believe in the potential of Telix's product portfolioto have a significant clinical impact in China.
'It is an honour for us to have the right to bring Telix's unique product range to our doctors and patients with major unmet medical needs. At the same time, our close clinical involvement will help bring strength to Telix's product development and reach. We are very excited about this long-term partnership.'
An estimated 100,000, 70,000 and 35,000 new diagnoses of prostate cancer, renal cancer and glioblastoma, respectively, were made in China in 2018.
'Telix's mission is to be a leading global oncology company and China is an important future market for our products, says Telix Pharmaceuticals CEO, Dr Chris Behrenbruch.
'We are pleased to be working with CGP to deliver our diagnostic imaging and therapeutic products to cancer patients in China.'
Telix is a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products using Molecularly-Targeted Radiation. It is listed on the Australian Securities Exchange and has offices in Belgium, Japan and the US.
China Grand Pharmaceutical and Healthcare Holdings Limited is a diversified global pharmaceutical enterprise, principally engaged in research, development, manufacturing and sales of pharmaceutical products, advanced medical devices, specialised pharmaceutical ingredients, biotechnology products and nutritional products.
