Telix Announces Reorganisation to Deliver on Strategic Priorities

APAC - English

News provided by

Aug 26, 2024, 19:29 ET

MELBOURNE, Australia, Aug. 27, 2024 /PRNewswire/ -- Telix Pharmaceuticals Limited (ASX: TLX, Telix, the Company) today announces new leadership appointments as part of an internal reorganisation to align its operations across four business units, reflecting its focus as a therapeutics-led radiopharmaceutical company committed to precision oncology.

The updated business model comprises: Therapeutics, Precision Medicine (Diagnostics), Lightpoint (Medtech) and Telix Manufacturing Solutions (TMS).

As part of this initiative, the Company announces three leadership changes:

Richard Valeix, Chief Executive Officer, Telix Therapeutics (formerly Group Chief Commercial Officer)^[1], leading the Company's therapeutic pipeline commercialisation and business development;
Kevin Richardson, Chief Executive Officer, Telix Precision Medicine (formerly Chief Executive Officer, Americas), leading the development of the Company's diagnostics, global marketing and commercial operations in the U.S. and Canada;
Raphael Ortiz, Chief Executive Officer, Telix International, leading the "rest of world" commercial operations for Europe, Middle East and Africa (EMEA), Asia Pacific (APAC) and Latin America regions (formerly Chief Executive Officer, EMEA & APAC).

Darren Patti remains Group Chief Operating Officer, with leadership responsibility for Telix's internal manufacturing operations, including the operations of ARTMS, IsoTherapeutics and Optimal Tracers, which sit under the TMS umbrella.

Dr Christian Behrenbruch, Telix Managing Director and Group Chief Executive Officer said the new structure will optimise the development and commercialisation of theranostic radiopharmaceuticals.

"Telix is at an inflection point: momentum in our therapeutics business is growing, with prostate, kidney and brain cancer therapeutic candidates currently in, or advancing to, pivotal clinical trials. Precision medicine is our global commercialisation engine, to bring personalised, theranostic solutions to market and is underpinned by a growing manufacturing footprint that enables enhanced control over the supply chain. Telix is evolving, and the revised business model reflects our differentiated position, harnessing the power of targeted radiation at every step of the patient journey."

About Telix Pharmaceuticals Limited

Telix is a biopharmaceutical company focused on the development and commercialisation of therapeutic and diagnostic 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).

Telix's lead imaging product, gallium-68 (⁶⁸Ga) gozetotide injection (also known as ⁶⁸Ga PSMA-11 and marketed under the brand name Illuccix®), has been approved by the U.S. Food and Drug Administration (FDA)^[2], by the Australian Therapeutic Goods Administration (TGA) ^[3], and by Health Canada^{^[4]}. No other Telix product has received a marketing authorisation in any jurisdiction.

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.

Telix Investor Relations

Ms. Kyahn Williamson
Telix Pharmaceuticals Limited
SVP Investor Relations and Corporate Communications
Email: [email protected]

This announcement has been authorised for release by the Telix Pharmaceuticals Limited Disclosure Committee on behalf of the Board.

Legal Notices

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX) or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as "may", "expect", "intend", "plan", "estimate", "anticipate", "believe", "outlook", "forecast" and "guidance", or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix's good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix's business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix's business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress and results of Telix's preclinical and clinical trials, and Telix's research and development programs; Telix's ability to advance product candidates into, enrol and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix's product candidates, manufacturing activities and product marketing activities; Telix's sales, marketing and distribution and manufacturing capabilities and strategies; the commercialisation of Telix's product candidates, if or when they have been approved; Telix's ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix's expenses, future revenues and capital requirements; Telix's financial performance; developments relating to Telix's competitors and industry; and the pricing and reimbursement of Telix's product candidates, if and after they have been approved. Telix's actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

^[1]Under the updated structure, Richard Valeix is no longer classified as Key Management Personnel effective 19 August 2024.

^[2] Telix ASX disclosure 20 December 2021.

^[3] Telix ASX disclosure 2 November 2021.

^[4]Telix ASX disclosure 14 October 2022.

Logo - https://mma.prnewswire.com/media/1920208/Telix_Main_Logo_Logo.jpg