Science and Industry Endowment Fund Grant Awarded for Advanced Biologics Manufacturing

MELBOURNE, Australia, June 18, 2018 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals Limited (ASX:TLX) (“Telix”, the “Company”), a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or “molecularly-targeted radiation” (MTR), has today announced that a consortium of industry collaborators, including CSIRO, GE Health and ThermoFisher and Telix have been awarded an AUD $1.1m Science and Industry Endowment Fund (SIEF) grant to support the establishment of an advanced biopharmaceutical manufacturing footprint in Clayton, Victoria (Australia).

The SIEF grant is part of a larger funding package totaling approximately AUD $5.5m, including existing funding commitments from CSIRO and MTPConnect. The consortium partners, which also includes Monash University as an academic collaboration partner, will cooperate to establish a pilot-scale “Good Manufacturing Practice” (GMP) facility to manufacture biologics, by expanding the Protein Production Facility (PPF) platform at CSIRO’s Clayton campus, adjacent to Monash University.

Telix Co-Founder and CEO Dr. Christian Behrenbruch stated, “Australian SME biotech companies like Telix currently invest millions of dollars overseas each year running GMP manufacturing campaigns to support Phase I and Phase II programs. We estimate that over $100m of annual expenditure from the Australian bioscience ecosystem could be invested domestically with the availability of appropriate infrastructure. We have highly experienced local manufacturing know-how through the activities of excellent companies like CSL and Patheon (now ThermoFisher). For companies like Telix, this capability will have profound impact on the cost and speed of developing new biologic drugs.”

Dr. Keith McLean, Director of CSIRO Manufacturing commented, “Australia has a number of rapidly growing small biotechnology companies, like Telix, that need access to clinical-grade protein production that is phase-appropriate to their development needs. We see this capability as key missing piece in the Australian biotechnology ecosystem that is well-aligned with the country’s advanced manufacturing agenda.”

About Telix Pharmaceuticals Limited

Telix Pharmaceuticals Limited (Telix) is a global biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or “molecularly-targeted radiation” (MTR). The company is headquartered in Melbourne with international operations in Brussels (EU), Kyoto (JP) and Indianapolis (US). Telix is developing a portfolio of clinical-stage oncology products that address significant unmet medical need in renal, prostate and brain (glioblastoma) cancer. Telix is listed on the Australian Securities Exchange (ASX:TLX). For more information visit www.telixpharma.com.

About the Science and Industry Endowment Fund (SIEF)

Spanning a history of over 90 years, the Science and Industry Endowment Fund (SIEF) provides grants to science and scientists for the purposes of assisting Australian industry, furthering the interests of the Australian community and contributing to the achievement of Australian national objectives. This unique and esteemed funding arrangement received a substantial gift from CSIRO, made possible from proceeds of its fast wireless local area network (WLAN) technology, facilitating the rejuvenated Fund to be a mechanism for significant support of science in Australia.

About CSIRO

The Commonwealth Scientific and Industrial Research Organisation (CSIRO) is an independent agency of the Australian Federal Government responsible for scientific research in Australia. Its chief role is to improve the economic and social performance of industry, for the benefit of the community. CSIRO works with leading organisations around the world. For more information visit www.csiro.gov.au.