Telix to Acquire Germany's ITM for $1.65 Billion

04:11 AM EDT, 09/21/2026 (MT Newswires) -- Telix (TLX) entered into an agreement to acquire Munich-based radioisotope maker ITM for $1.65 billion in upfront consideration to strengthen its radiopharmaceutical offerings, the company announced over the weekend. Under the deal, Telix may pay additional contingent consideration of up to $700 million, depending on certain regulatory approvals and sales milestones for ITM-11, ITM's investigational radiopharmaceutical cancer treatment, Telix said in a statement late Sunday. The combined company is expected to generate unaudited pro forma 2026 revenue and income exceeding $1.3 billion. ITM reported annual revenue of $273 million in 2025. Telix said about $1.25 billion of the upfront consideration will be paid through 105.8 million Telix shares, while the company will also assume about $302 million of ITM net debt. Upon completion of the transaction, Telix shareholders will own around 76.3%, while ITM shareholders will own a 23.7% stake in Telix, the company added. The deal is expected to close by the end of fiscal 2026.