Telix Acquires $398M for Radiotherapies

Shortly after abruptly cancelling a $232 million initial public offering (IPO) on Nasdaq, Telix Pharmaceuticals has raised $398 million through convertible bond issuance.

The radiopharmaceutical expert announced in a press statement dated July 23 that the bonds, which are transferable into common shares, will earn an interest rate between 2% and 2.75%. The maturity date is scheduled for July 30, 2029, which is five years from today.

According to Telix, the money will be utilised for pivotal trials for kidney and brain cancer treatment programs in addition to label growing studies for diagnostic imaging agents.

Telix group CEO Dr Christian Behrenbruch commented: “The announced offering will provide additional financial flexibility to execute on our strategic priorities and capitalise on future opportunities in the rapidly growing radiopharmaceuticals market.”