BRIEF—Telix targets A$50 million in Australia's biggest biotech IPO since CSL

Telix Pharmaceuticals, an Australian biopharma developing diagnostic and therapeutic products based on targeted radiopharmaceuticals or molecularly-targeted radiation (MTR), has launched its initial public offering (IPO) to raise A$50 million ($39 million).

This is the biggest biotech IPO on the Australian Securities Exchange since CSL Limited’s (ASX:CSL) offering in 1994.

MTR is a new approach that delivers selective radiation to cells that exhibit certain targets that may be indicative of cancer. Telix has developed a pipeline of late-stage oncology assets to meet unmet needs in renal, prostate and brain cancer.

This financing will enable the company to reach several major development and commercial milestones over the next 24 months.