Heidelberg Pharma announces receipt of non-refundable upfront cash payment following the successful closing of its royalty purchase agreement with HealthCare Royalty
Ladenburg, Germany, 19 March 2024 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech company developing innovative Antibody Drug Conjugates (ADCs), today announced the formal closing of the royalty purchase agreement with HealthCare Royalty (HCRx) for Zircaix®, signed earlier this month.
Under the terms of the agreement, Heidelberg Pharma has received an upfront, non-refundable cash payment of USD 25 million and is furthermore eligible to receive up to USD 90 million in total from the partial sale of its future royalties on the worldwide sales of Zircaix® (TLX250-CDx, 89Zr-DFO-girentuximab), a radiopharmaceutical Positron Emission Tomography (PET) imaging agent for the diagnosis and management of clear cell carcinomas. Heidelberg Pharma developed the antibody as therapeutic and diagnostic agent up to a first completed Phase III clinical trial prior to licensing it to Telix Pharmaceuticals Limited (Telix), an Australian-headquartered company based in Melbourne, in 2017 for further development. Telix submitted the Biologics License Application submission for Zircaix® in December 2023.
