Regeneron Pharmaceuticals announced on Apr. 13 a new partnership with Australian biotech company Telix to develop radiopharmaceutical therapies targeting multiple cancer types.
The collaboration is seen as an important move for Regeneron, which aims to expand its oncology pipeline and diversify its commercial portfolio. Radiopharmaceuticals are gaining attention in the pharmaceutical industry as companies look for new ways to treat solid tumors.
Under the agreement, Regeneron will pay $40 million upfront to access Telix’s technology for four initial programs. The two companies will split global commercialization costs and profits equally. Regeneron also has the option to add four more programs for an additional, undisclosed payment. If all options are exercised, Telix could receive up to $4.3 billion in milestone payments.
Telix may choose not to share costs on certain programs; in those cases, it would be eligible for up to $535 million in development and commercial milestones plus royalties from sales of those products. John Lin, senior vice president of Oncology & Antibody Technology Research at Regeneron, said: “Targeted radiopharmaceuticals represent a rapidly emerging frontier in oncology and an exciting opportunity to bring new treatment options to patients.”
The specific cancer types targeted by the partnership have not been disclosed but will involve using Regeneron's antibody portfolio—including bispecific antibodies—to address several solid tumor targets.
This move puts Regeneron among other major pharmaceutical companies pursuing radiopharma strategies. Novartis currently leads the field with Lutathera and Pluvicto—approved treatments that generated significant sales growth in 2025—and other firms such as Eli Lilly, Bristol Myers Squibb, and AstraZeneca have made substantial investments or acquisitions related to radiopharmaceutical assets over recent years.
Analysts suggest that while investment has slowed recently in this area, successful products like Novartis’ Pluvicto indicate strong future potential for growth within the sector.
