The partnership will include three areas of collaboration, including establishing clinical trial sites, expanding clinical trials and commercializing products in China.
Telix Pharmaceuticals (ASX:TLX) and GenesisCare announced Wednesday (October 10) the two will partner for to establish clinical trial sites, expand clinical trials and commercialize products in China.
The partnership will include three areas of collaboration, including establishing clinical trial sites, expand clinical trials and commercialize products in China. The companies will work to expand the use and distribution of Telix’s products globally.
In Australia, the companies plan to organize a preferred clinical provider relationship to facilitate radiation oncology clinical trials in the country. This relationship would promote the multi-center trials in neuro-oncology and urologic oncology.
“The kind of products that Telix is developing are a natural fit for the GenesisCare clinical network,” Christian Behrenbruch, CEO Of Telix, said in the press release. “Both in terms of trials to support product development but also eventual product roll-out.”
Another focus of this partnership is bringing expanded use of Telix’s glioblastoma therapy program to patients on its extensive patient network. By widening the clinical trial setting, more patients may be eligible for the study resulting in additional clinical trial data.
The partnership also includes potentially commercializing Telix’s products in China for a more global reach.
Dan Collins, CEO of GEnesisCare, shared similar sentiments to Behrenbruch, adding he hopes this will be a “long partnership with Telix.”
GenesisCare is the largest oncology services provider in Australia and Europe and with its presence in China. It is currently treating patients with cancer and heart disease and leads more than 100 clinical trials.
In addition to these oncology services and this partnership, Telix develops diagnostic and therapeutic products based on radiopharmaceuticals through its international locations. Its current pipeline is working on oncology indications for kidney, metastatic prostate and glioblastoma cancers.
Telix’s share price had nearly a four percent increase to A$0.80 as of 12:15 p.m. EST Wednesday.
According to MarketWatch, the company has a “Buy” rating from one analysts rating and a price target oft A$1.62.
Interested investors can stay up to date with this partnership and other announcements on Telix’s website. Long term results are likely to be seen for the commercialization of products in China, expanding clinical trials and more.
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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.