Australia-based Telix Pharmaceuticals has agreed to acquire ITM Isotope Technologies Munich in a transaction valued at up to $2.35bn. The deal combines Telix's operations with ITM's radioisotope production business and late-stage treatment candidate ITM-11. The Australian company will pay $1.65bn upfront on a cash-free, debt-free basis. An additional $700m may be payable if ITM-11 meets specified regulatory approval and sales milestones. The upfront consideration includes $1.25bn to be paid through ...