Telix and Mauna Kea launched the IRiS Alliance in December 2020. Credit: Tom Merton via Getty Images.

Telix Pharmaceuticals and Mauna Kea Technologies are partnering to expand the Imaging and Robotics in Surgery (IRiS) Alliance, investing €6m ($6.4m) to develop hybrid pharmaceutical-device products.  

The collaboration combines Telix’s cancer-targeting agents with Mauna Kea’s Cellvizio surgical endomicroscopy platform, which offers real-time visualisation of cancer tissues during surgery. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

As part of the deal, Telix will purchase 11,911,852 new ordinary shares at a price of €0.5037 ($0.54) per share. After the deal closes on 17 November 2023, Telix will own 19.33% of the share capital and 19.01% of the voting rights.  

Australian company Telix said the strategic investment is synergistic with its recent acquisitions of Lightpoint and Dedicaid. 

Telix and Mauna Kea initially joined forces for the IRiS Alliance in December 2020, in a bid to develop advanced image-guided surgical technologies in the field of urologic oncology.  

GlobalData’s Medical Intelligence Centre shows that Telix has eight products in the pipeline. Its marketed product, Illucix (TLX591-CDx), gained approval from the US Food and Drug Administration (FDA) in December 2021. The therapy is a radiopharmaceutical imaging agent indicated for positron emission tomography (PET) of prostate-specific membrane antigen (PSMA) in patients with prostate cancer.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In November, Telix announced a deal with Danish company Wiik Pharma for the distribution of Illuccix, one of its radiopharmaceutical imaging agents, in the Nordics. The deal will see Wiik Pharma as the company’s sole distributor across Denmark, Finland, Norway, and Sweden for a period of three years from the national approved date in each country.  

Managing director and group CEO of Telix, Christian Behrenbruch, said: “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.”