EQS-Adhoc
Heidelberg Pharma Announces Royalty Financing Agreement with HealthCare Royalty for up to USD 115 million
- Heidelberg Pharma signs royalty financing agreement with HealthCare Royalty for up to USD 115 million
- HealthCare Royalty to purchase royalties from worldwide sales of ZircaixTM
- Heidelberg Pharma eligible to receive upfront payment, milestone payments, and royalties
EQS-Ad-hoc: Heidelberg Pharma AG / Key word(s): Financing Ad hoc announcement |
Disclosure of inside information under Article 17 of Regulation (EU) No 596/2014
Heidelberg Pharma Announces Royalty Financing Agreement with HealthCare Royalty for up to USD 115 million
- HealthCare Royalty to purchase royalties from worldwide sales of Telix Pharmaceuticals’ imaging diagnostic agent ZircaixTM (TLX250-CDx)
- Heidelberg Pharma is eligible to receive up to USD 115 million in three near-term tranches
- Cumulative royalties sold are capped at a maximum value
Ladenburg, Germany, 4 March 2024 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech Company developing innovative Antibody Drug Conjugates (ADCs), and HealthCare Royalty (HCRx) today announced that they have signed a royalty financing agreement. Formal closing conditions that are expected to be fulfilled in a timely manner must still be met. Heidelberg Pharma is eligible to receive up to USD 115 million from the sale of its future royalties from worldwide sales of ZircaixTM (TLX250-CDx), a microdose radiopharmaceutical Positron Emission Tomography (PET) imaging agent for the diagnosis and follow up of clear cell renal cancer.
ZircaixTM is a radiolabeled form of the antibody girentuximab which binds to the tumor-specific antigen CAIX on clear cell renal cell carcinomas. ZircaixTM also has potential as a PET diagnostic imaging agent for other tumor types. Heidelberg Pharma developed the antibody up to a first completed Phase III clinical trial prior to licensing it to Telix Pharmaceuticals Limited (Telix), an Australian company based in Melbourne, Australia, in 2017.