The Telix Pharmaceuticals Ltd (ASX: TLX) share price is charging higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) diagnostic and therapeutic product developer closed on Friday trading for $14.64. In early morning trade on Monday, shares are swapping hands for $15.39 apiece, up 5.1%.
For some context, the ASX 200 is down 0.8% at this same time.
Here's what's catching investor interest.
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Telix share price jumps on collaboration deal
The Telix share price is charging higher after the company announced it has entered into a strategic collaboration with United States based biotech giant Regeneron Pharmaceuticals Inc (NASDAQ: REGN) for cancer treatment.
The agreement will see the companies work together to jointly develop and commercialise next generation radiopharmaceutical therapies.
Management said the 50/50 cost and profit-sharing model combines Telix's radiopharmaceutical development and manufacturing capabilities with Regeneron's antibody discovery platforms and oncology experience.
The collaboration will include multiple solid tumour targets from Regeneron's portfolio of antibodies. The companies said they also intend to develop radio-diagnostics to support patient selection and treatment response assessment.
The new agreement could see Telix earn development and commercial milestone payments of up to US$2.1 billion (AU$3.0 billion). The ASX 200 healthcare company will receive US$40 million upfront from Regeneron for four initial programs enabling access to its radiopharmaceutical manufacturing platform.
Telix reported that it could also earn "low double-digit royalties" if it opts out of co-funding any program.
What did management say?
Commenting on the collaboration with Regeneron that's helping to boost the Telix share price today, Telix CEO and managing director Christian Behrenbruch said:
The collaboration with Regeneron reflects a highly complementary set of capabilities and a unique opportunity to explore what true 'next gen' biologics-based radiopharmaceuticals can potentially do for patients.
We are well positioned to work toward the shared goal of advancing next generation precision radiopharmaceuticals for patients with hard-to-treat cancers.
Israel Lowy, senior vice president clinical development unit head Oncology at Regeneron, said, "Telix brings deep expertise in radiopharmaceutical development and infrastructure that complements Regeneron's antibody technologies and oncology portfolio."
Lowy continued:
Regeneron is excited to enter the targeted radiopharmaceuticals space and explore the utility of these agents either as monotherapy or rationally combined with our immunotherapy platform, particularly in areas of high unmet patient need such as lung cancer, where our PD-1 inhibitor is a global standard of care.
John Lin, senior vice president of oncology & antibody technology research at Regeneron, added, "Targeted radiopharmaceuticals represent a rapidly emerging frontier in oncology and an exciting opportunity to bring new treatment options to patients in need."
With today's intraday lift factored in, the Telix share price is up 35.5% in 2026, racing ahead of the 1.9% year to date gains posted by the benchmark index.
