Friday, April 12, 2024
Burnaby, British Columbia, Canada
ARTMS Inc. (ARTMS) 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.
ARTMS 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), technetium‐99m (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, ARTMS’ 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 ARTMS 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, ARTMS 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, ARTMS completed a $20M USD Series A fundraising that included GHS and welcomed Deerfield Management to the ARTMS family. In the subsequent years ARTMS 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 ARTMS’ 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 ARTMS during the negotiations and due diligence process related to the acquisition by Telix.