B.C. medical isotope ‘trailblazer’ ARTMS fetches US$82M in Telix acquisition

📆 11.04.2024 20:50:00
📰 BurnabyNOW_News

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Deal includes US$15M upfront cash, US$42.5M in shares and potential US$24.5M bonus

A West Coast life sciences firm known for whipping up medical isotopes has whipped up a sizeable asking price for its sale.

Its goal is to address a global shortage of medical isotopes, which are used in diagnosing cancer and cardiac conditions. The global supply of medical isotopes previously relied on production from a nuclear reactor in Chalk River, Ont., which produced a large quantity of a parent isotope that decayed over time to form the medical isotope.That opened the door for ARTMS to use research from Triumf for commercial ventures.

Telix CEO Christian Behrenbruch described ARTMS as a “trailblazer” in the field of next generation cyclotron-based isotope production systens.

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B.C. medical isotope ‘trailblazer’ ARTMS fetches US$82M in Telix acquisitionDeal includes US$15M upfront cash, US$42.5M in shares and potential US$24.5M bonus
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