Full Press Release Details
Melbourne (Australia) | 03 May 2024
Telix today announces the completion of the acquisition of QSAM Biosciences, Inc. (U.S. OTC: QSAM) and its lead investigational drug Samarium-153-DOTMP ( 153 Sm-DOTMP). QSAM is a United States (U.S.) based company developing therapeutic radiopharmaceuticals for primary and metastatic bone cancer [1] .
153 Sm-DOTMP is a novel investigational kit-based bone-seeking targeted radiopharmaceutical that uses a “next-generation” chelating agent to deliver a proprietary formulation of Samarium-153 radioisotope. With two major potential applications – pain management of bone metastases and osteosarcoma therapy, including in paediatric patients – 153 Sm-DOTMP is highly aligned with Telix’s existing therapeutic focus areas in urologic oncology (prostate and kidney cancer) and musculoskeletal oncology (sarcoma).
This acquisition is designed to be a complementary and early commercial entry-point for Telix’s prostate cancer therapy franchise. Lutetium-177 ( 177 Lu) -based PSMA therapies are transforming prostate cancer care, however all patients eventually progress and require specialty care, particularly pain management for bone metastases. This unmet need is further exacerbated by quality-of-life issues associated with metastatic pain management, particularly opioid administration. In the U.S. alone, there are an estimated 400,000 patients up-staged with malignant bone metastasis primarily from prostate, breast and lung cancers [2] .
Dr Christian Behrenbruch, Managing Director and Group CEO of Telix said, “The QSAM technology adds a near-term therapeutic asset to the Telix pipeline, which we believe will enable a “third generation” palliation approach through radiopharmaceuticals. This is needed more than ever, not only because of the change in treatment landscape in prostate and other cancers, but also because of the escalating cost of opioid compliance, particularly in the U.S. 153 Sm-DOTMP is a validated therapeutic candidate, which further enhances and differentiates Telix’s innovation position to provide a continuum of care to patients from diagnosis and staging, through systemic treatment of metastatic disease, to palliative care. We are pleased to welcome the highly experienced QSAM team to the Telix Group of companies.”
To read the full ASX release click here
[1] Refer to Telix ASX disclosure 8 February 2024.
[2] Cleveland Clinic Journal of Medicine July 2022.