Regeneron and Telix have entered a radiopharmaceutical collaboration worth up to $2.1 billion in milestones, combining antibody-based targeting with isotope delivery to develop next-generation precision oncology therapies.
Regeneron Pharmaceuticals and Telix Pharmaceuticals agreed to a collaboration aiming to advance next-generation radiopharmaceutical therapies.
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The collaboration underscores the industry’s growing interest in targeted radiation approaches within precision oncology, and brings together Regeneron’s biologics capabilities, including its antibody discovery platform derived from VelocImmune mice, with Telix’s radiopharmaceutical development infrastructure, manufacturing network, and global supply chain.1
“Regeneron is excited to enter the targeted radiopharmaceuticals space and explore the utility of these agents either as monotherapy or rationally combined with our immunotherapy platform, particularly in areas of high unmet patient need such as lung cancer, where our PD-1 inhibitor is a global standard of care,” said Israel Lowy, MD, PhD, senior vice president and clinical development unit head, oncology at Regeneron.
The agreement is set to initially focus on multiple solid tumor targets selected from Regeneron’s antibody portfolio, with the potential to expand the collaboration to additional programs.1 In parallel, the companies plan to co-develop diagnostic agents designed to support patient selection and monitor treatment response, reflecting a broader shift toward integrated therapeutic and diagnostic strategies in oncology.
“At Regeneron, we follow the science to determine the best therapeutic approach for each disease, continuously expanding our toolbox of treatment modalities, from monoclonal and bispecific antibodies to cell therapies and beyond. Targeted radiopharmaceuticals represent a rapidly emerging frontier in oncology and an exciting opportunity to bring new treatment options to patients in need,” said John Lin, MD, PhD, senior vice president of oncology and antibody technology research at Regeneron.
From Telix’s perspective, the collaboration builds on its positioning as a specialist in radiopharmaceuticals, an area that has seen renewed investment as companies seek more precise ways to deliver cytotoxic payloads.
“The collaboration with Regeneron reflects a highly complementary set of capabilities and a unique opportunity to explore what true ‘next gen’ biologics-based radiopharmaceuticals can potentially do for patients,” said Christian Behrenbruch, DPhil, managing director and group CEO at Telix. “We are well positioned to work toward the shared goal of advancing next generation precision radiopharmaceuticals for patients with hard-to-treat cancers.”
A key component of the collaboration is Telix’s radiopharmaceutical platform, which integrates isotope selection, targeting molecules, and scalable manufacturing to enable both therapeutic and diagnostic applications.2 The company has built capabilities across the full development continuum, including radiochemistry, clinical development, and a global supply chain designed to support the production and distribution of short-lived radioisotopes.
“Telix brings deep expertise in radiopharmaceutical development and infrastructure that complements Regeneron’s antibody technologies and oncology portfolio,” added Lowy,
Financially, the deal includes a $40 million upfront payment from Regeneron to access Telix’s platform for four initial therapeutic programs, with options to expand to four additional programs through further upfront payments.1 Telix can also earn up to an aggregate of $2.1 billion in development and commercial milestone payments plus low double-digit royalties.
The companies are set to share global development costs and commercialization profits equally, while Telix retains the option to co-promote certain products. If Telix elects not to participate in co-funding for specific programs, it could receive up to $535 million in development and commercial milestones, along with low double-digit royalties on net sales.
