BURNABY, British Columbia--(BUSINESS WIRE)--AR™S Inc. (AR™S) is pleased to announce that the acquisition by Telix Pharmaceuticals Limited (Telix) has been completed. This acquisition further enhances the vertical integration of Telix's supply chain and manufacturing by providing a greater level of supply chain and regulatory control over the production of key isotopes.
AR™S will support the high efficiency, large-scale and cost-effective production of commercially important medical isotopes for Telix's portfolio of products, such as zirconium-89 (89Zr), gallium-68 (68Ga), technetium99m (99mTc) and copper-64 (64Cu), and will continue to partner with additional radiopharmaceutical companies to ensure that these critical isotopes are available on demand for patients. In addition, AR™S' portfolio of advanced cyclotron technologies has immediate application and differentiation for Telix in the production of future commercially important alpha-emitting, therapeutic isotopes, including actinium-225 (225Ac) and astatine-211 (211At).
The history of AR™S is rooted in a Canadian government funded project focused on solid target production of 99mTc. After that project was successfully completed, the innovation continued and resulted in a full suite of PET products. In 2017, AR™S Inc. was formed with support and seed funding from Quark Venture, through their Global Health Sciences Fund (GHS) and founding institutions TRIUMF, BC Cancer, Lawson Health Research Institute and the Center for Probe Development. In May of 2020, AR™S completed a $20M USD Series A fundraising that included GHS and welcomed Deerfield Management to the AR™S family. In the subsequent years AR™S has played a critical role in alternative production of medical isotopes with a focus on accelerating the production capabilities of the world's most commonly installed cyclotrons. The collaboration between AR™S' unparalleled team, its investors and founding members has resulted in a truly differentiated organization.
Solomon Partners Securities LLC acted as financial advisor and Norton Rose Fulbright Canada LLP acted as legal advisor to AR™S during the negotiations and due diligence process related to the acquisition by Telix.
About AR™S,
Based in Burnaby, British Columbia, Canada, AR™S Inc. is the global leader in the development of novel technologies and products which enable the high-quality and high-yield production of the world's most-used diagnostic imaging isotopes. AR™S' flagship product, the QUAN™ Irradiation System (QIS™), enables decentralized, cost-effective, large-scale production of important medical isotopes such as gallium-68 (68Ga), zirconium-89 (89Zr), technetium99m (99mTc) and copper-64 (64Cu) using pharmaceutical distributor and hospital-based medical cyclotrons, empowering users to control their supply chain. AR™S commercializes these award-winning and proprietary Canadian inventions on a global basis and has the prospect of revolutionizing the nuclear medicine industry.
For more information on the QUAN™ Irradiation System™ and AR™S, please follow us on Twitter/X @AR™S_Inc/X and LinkedIn and visit http://www.artms.ca/
About Telix Pharmaceuticals Limited
Telix is a biopharmaceutical company focused on the development and commercialisation of diagnostic and therapeutic radiopharmaceuticals and associated medical devices. Telix is headquartered in Melbourne, Australia with international operations in the United States, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX).
Visit www.telixpharma.com for further information about Telix, including details of the latest share price, announcements made to the ASX, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on X and LinkedIn.
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AR™S Corporate Contact
Douglas Gentilcore
AR™S, Inc.
Chief Executive Officer
Email: gentilcore@artms.ca
AR™S Commercial Contact
Kevin Reimer
AR™S, Inc.
VP Global Sales and Marketing
Email: reimer@artms.ca
Telix Investor Relations
Ms. Kyahn Williamson
Telix Pharmaceuticals Limited
SVP Investor Relations and Corporate Communications
Email: kyahn.williamson@telixpharma.com
Source: AR™S Inc.