PI Medical to receive exclusive rights to distribution of TLX591- CDx in Netherlands
Australia headquartered - Telix Pharmaceuticals, a clinical stage biopharma company has reportedly signed Netherlands- based PI Medical Diagnostic Equipment for the distribution of TLX591-CDx cold kit in Netherlands.
For the record, Telix Pharmaceuticals focuses on the development of therapeutic and diagnostic development of products based on molecularly targeted radiation (MTR). Based in Melbourne, the company has international presence in Japan, Europe and United States. Currently, the company is developing a portfolio of clinical stage cancer treatment products that meet the required need for brain, renal and prostate cancer treatment.
Ludovic Wouters, VP Corporate Development at Telix Pharmaceuticals was reportedly quoted stating that for several months the company has been informally researching and working with the PI Medical and aim at establishing a concrete commercial relationship focusing on the availability of PSMA imaging cold kit. With the help of PI Medical’s nuclear medicine expertise and their recognition in the market, Telix Pharmaceuticals can easily establish itself in the Dutch market, he further stated.
PI Medical Diagnostic Equipment was founded in January 1995 and is a commercially strong Netherlands based company produces nuclear medicines and focuses on radiology and radiotherapy market. The company has developed equipments for sentinel gland procedures. The products range from nuclear medicines, radiotherapy, radiology to operating rooms.
The Managing Director of PI Medical reportedly claimed that the collaborating companies complement each other, concerning PI’s expertise in nuclear medicines and Telix’s products. The theranostic product portfolio of the company includes gallium-based products and the use of Lutetium- 177, a therapeutic isotope, he added.
The collaboration is a multi-product agreement whereby PI Medical will receive the exclusive rights to the distribution of TLX591 – CDx, a prostate cancer imaging in Netherlands and non- exclusive distribution rights in the Flemish region of Belgium.
Reportedly, the financial details related to the deal have not been disclosed so far.