melbourne, australia, April 26, 2023 /PRNewswire/ — Telix Pharmaceuticals Limited (ASX: TLX, Telix, the Company) today announced the expansion of its artificial intelligence (AI) capabilities and signed an acquisition agreement. ViennaBased in Dedicaid GmbH (Dedicaid) is a spin-off of the Medical University of Vienna.
Dedicaid’s core asset is clinical decision support software (CDSS ) AI platform. Each CDSS application is trained to predict outcomes such as disease severity, risk to patients, and inform treatment decisions.
The AI platform also favorably differentiates itself from the commercial AI solutions currently used for PSMA-PET imaging. These solutions are limited to helping clinicians interpret and read images and have no predictive capabilities. This differentiation is driven by his AutoML (automated machine learning) engine developed by his Dedicaid behind the AI platform. This effectively means it’s a “zero code” solution. This significantly reduces the time, cost and level of expertise required to build, test and validate new CDSS applications, facilitating a streamlined development and regulatory pathway for each new application.
The technology was developed by Dedicaid in collaboration with the Medical University of Vienna, and a proof-of-concept of a machine learning methodology and application developed for prostate, breast and lung cancer has been published in a leading peer-reviewed journal.[1]
The acquisition will accelerate the development of Telix’s AI platform, dubbed Telix AI™, by adding predictive capabilities to an image analysis module developed in partnership with Invicro LLC.[2] This automates lesion classification and improves the efficiency and standardization of the imaging workflow.
This acquisition will enable Telix to rapidly generate CDSS applications that are highly complementary to our radiopharmaceutical pipeline. Upon closing of the transaction, Telix will undertake validation activities and regulatory submissions (U.S. Food and Drug Administration (FDA) 510(k) and CE Mark (Europe)) AI Platforms as “Software as Medical Devices” in 2023.
Doctor Michael WheatcroftTelix Chief Scientist said: Ability to rapidly generate new applications from clinical imaging data. These applications have the potential to help clinicians predict disease progression and treatment response, thus supercharging and discriminating Telix’s AI products. Also, it is essentially in line with the philosophy behind Theranostics: Insights from medical imaging to inform and guide optimal treatment pathways. ”
Thomas BeyerCo-founder and CEO of Dedicaid and head of the research domain Quantitative Imaging and Medical Physics (QIMP) at the Medical University of Vienna. Helping clinicians navigate the complex tasks of cancer diagnosis and treatment while delivering state-of-the-art patient care. We are thrilled to complete the transition of the “Commercial Stage”.
Acquisition price comprises an upfront payment of €1.1 million (paid in shares) plus an additional €1.1 million in earnout (subject to the achievement of US regulatory approvals, paid in cash or shares at Telix’s option) will be In consideration of the acquisition, Telix will issue common stock to the Vendor within its capacity to issue in Listing Rule 7.1. A portion of each equity component is subject to a 12 month escrow period. After the acquisition, Telix will have ownership of all intellectual property related to his Dedicaid AI platform.
almost Telix Pharmaceuticals Limited
Telix is a biopharmaceutical company focused on the development and commercialization of diagnostic and therapeutic radiopharmaceuticals. Telix is headquartered in melbourne, australia Developing international business in usa, Europe (Belgium and Switzerland), and JapanTelix develops a portfolio of clinical-stage products aimed at addressing critical unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX).
For more information about Telix, including our latest stock price details, ASX announcements, investor and analyst presentations, news releases, event details and other publications of interest, please visit www.telixpharma.com. You can also follow Telix twitter (@TelixPharma) and LinkedIn.
Illuccix, Telix’s flagship product® (Gallium-68 (68Ga) gozetotide (also known as 68Ga PSMA-11) injection) is approved by the U.S. Food and Drug Administration (FDA) and[3] and by the Australian Therapeutic Goods Administration (TGA)[4] and by Health Canada.[5] Telix is also in the process of submitting a Marketing Authorization Application for this investigational drug candidate. England.[6]
This announcement has been approved for release by the Telix Pharmaceuticals Limited Disclosure Committee on behalf of the Board of Directors.
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This announcement can be made in any country in the world ( Australia, America and the England). This announcement may contain forward-looking statements relating to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements generally use words such as “may”, “expect”, “intend”, “plan”, “estimate”, “expect”, “outlook”, “forecast”, ” It can be identified using words such as ‘Guidance’. , or other similar words. Forward-looking statements involve known and unknown risks, uncertainties and other factors and actual results, levels of activity, performance or outcomes may not be expressed or implied by these forward-looking statements. Actual future results, levels of activity, performance or achievements may differ materially. The statement you are looking for. Forward-looking statements are based on our good faith assumptions about financial, market, regulatory and other risks and considerations that exist and affect our business and operations in the future, any of which may be There is no guarantee of future application. I will prove you right. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements regarding the following: Telix’s ability to advance, enroll and successfully complete product candidates into clinical trials, including multinational clinical trials. the timing or likelihood of regulatory submissions and approvals, manufacturing activities and product marketing activities; commercialization of Telix’s product candidates if approved or if approved; Estimates of Telix’s expenses, future earnings and capital requirements. Telix financial performance. Developments related to Telix’s competitors and industry. Also, pricing and refunds if Telix’s product candidates are approved. Telix’s actual results, performance or achievements may differ materially from those expressed or implied by such statements, and any such differences may be adverse. Therefore, undue reliance should not be placed on these forward-looking statements.
Telix does not undertake to publicly update or confirm any forward-looking statements, except as required by applicable law or regulation. Past performance cannot be relied upon as a guide to future performance. Readers should read this announcement along with our material risks as disclosed in our most recent reports filed with the ASX and on our website.
©2023 Telix Pharmaceuticals Limited. The Telix Pharmaceuticals and Illuccix names and logos are trademarks of Telix Pharmaceuticals Limited and its affiliates, all rights reserved.
[1] Papp, L et al. Journal of Nukur Med2018; Papp, L et al. European Journal of Nucl Med and Mol Imaging2021; Zhao, M. et al. Radiology in Europe2022; Krajnc, D et al. cancer. 2021; Pup, LJournal of Nucl Med.2019.
[2] Telix Media Release June 14, 2022.
[3] Disclosure of Telix ASX December 20, 2021.
[4] Disclosure of Telix ASX November 2, 2021.
[5] Disclosure of Telix ASX October 14, 2022.
[6] Disclosure of Telix ASX April 3, 2023.
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