Telix Pharmaceuticals Limited Launches $50M Underwritten Initial Public Offering

MELBOURNE, Australia, Oct. 24, 2017 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals Limited (Telix, the Company), an Australian biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or “molecularly-targeted radiation” (MTR), is pleased to announce the opening of its Initial Public Offering (IPO or Offer) to raise A$50 million.

The IPO is an offer by Telix for the issue of 77.0 million shares at $0.65 per share and is fully underwritten by the Lead Managers, Taylor Collison Limited and Wilsons Corporate Finance Limited. The IPO has been strongly supported by the Company’s existing shareholders, which include both industry partners and domestic institutional investors, such as Acorn Capital, CVC, Monash Investors, Viburnum Funds, Allan Moss and Alium Capital Management. With this Offer, Telix will further strengthen its Australian and international institutional shareholder base, including the addition of Fidelity International. Fidelity International is a cornerstone investor in the IPO and will hold approximately 10% of the issued capital of the Company upon completion of the IPO.

Telix is Chaired by ex-Macquarie Bank Chairman Mr. Kevin McCann AM. The Board of Directors consists of Caledonia Investments co-founder Dr. Mark Nelson (Non-executive Director) and Mr. Oliver Buck (Non-executive Director), co-founder and member of the Supervisory Board of ITM Group, a global leader in the production of medical isotopes. Co-founder and Chief Medical Officer Dr. Andreas Kluge, and Co-Founder and CEO Christian Behrenbruch are appointed as Executive Directors.

Dr. Behrenbruch commented, “With our portfolio of highly-promising clinical programs in renal, prostate and brain (glioblastoma) cancer, Telix is uniquely positioned for global leadership in the fast-growing field of MTR. We have excellent patient data underpinning our development programs, a highly experienced clinical development team and meaningful partnerships with thought leaders in the field. This financing will enable the company to reach several major development and commercial milestones over the next 24 months.”

The offer of new fully paid ordinary shares by Telix Pharmaceuticals is made under a prospectus lodged with the Australian Securities and Investments Commission (ASIC) on 16 October 2017. The Offer comprises a Retail Offer and an Institutional Offer.

Australian-resident retail investors are eligible to apply for shares under the Retail Offer via the Offer website at www.telixpharma.com/IPO.

The Offer is expected to close on or around 8 November 2017 and Telix is expected to commence trading on ASX on 15 November 2017, under the ticker “TLX”. The prospectus is available to Australian-resident investors via the Telix website at www.telixpharma.com/IPO.

For further information about the IPO, please contact:

For further information about Telix Pharmaceuticals Limited and the IPO, please refer to the prospectus. Potential investors should carefully consider the prospectus and investment risk factors before deciding whether to acquire shares. Please note that the offer of shares under the IPO will be made in, or accompanied by, a copy of the prospectus and anyone who wants to acquire Telix shares under the IPO will need to complete an application form that will be in or will accompany the prospectus.