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Telix and Wiik Pharma Sign Distribution Agreement for Illuccix® in the Nordic Region

Key Takeaway: Telix has signed an exclusive distribution agreement with Wiik Pharma for its investigational prostate cancer imaging agent, Illuccix, in the Nordic region. The agreement allows Wiik Pharma to distribute Illuccix in Denmark, Finland, Norway, and Sweden for three years following national approval. Both companies express optimism about improving patient care through this partnership.

Market Sentiment Analysis

POSITIVE FACTORS

  • Exclusive distribution agreement enhances market presence.
  • Collaboration aims to improve patient diagnosis and treatment.
  • Telix is expanding its network in Europe for better service.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+13%
120-day peak, hindsight
Typical move
7%
average across 7 past catalysts
Lead asset
131I-IPA
Phase 1 · Neoplastic Disease

Full Press Release Details

Melbourne (Australia) | 8 November 2023
Telix today announces it has signed an exclusive agreement with Denmark-based WIIK Pharma ApS (Wiik Pharma) for the distribution of Telix’s investigational prostate cancer imaging agent, Illuccix ® (TLX591-CDx, Kit for the preparation of 68 Ga-PSMA-11 injection) in the Nordic region.
Under the terms of the agreement, Wiik Pharma, a specialist supplier and distributor of nuclear medicine products and services will be the exclusive commercial distributor of Illuccix in Denmark, Finland, Norway and Sweden for a period of three (3) years from the national approval date in each country.
Yacoub Amin, CEO of Wiik Pharma said, “This commercial partnership with Telix marks a major step towards achieving Wiik Pharma’s vision to improve the diagnosis and treatment management of patients with difficult-to-detect and treatment-requiring diseases. We have high expectations for the collaboration with Telix, not just for Illuccix but also for other upcoming diagnostics and therapeutics in their investigational pipeline.”
Raphaël Ortiz, Telix CEO for the Europe, Middle East and Africa (EMEA) region added, “We are pleased to team up with Wiik Pharma, and look forward to bringing gallium-based PSMA-PET [1] imaging to men in need in the Nordics, an important region for Telix. Telix has established a network of leading distribution partners in Europe with a strong footprint to optimise our service to customer sites and ensure we can bring Illuccix to patients across the region, subject to regulatory approval.”
Read the full media release here
[1] Imaging of prostate-specific membrane antigen with positron emission tomography.

Frequently Asked Questions

What is Illuccix?

Illuccix is an investigational imaging agent for prostate cancer.

Who is Wiik Pharma?

Wiik Pharma is a Denmark-based distributor of nuclear medicine products.

How long is the distribution agreement?

The agreement is for three years from national approval in each country.

Which countries are included in the agreement?

The agreement covers Denmark, Finland, Norway, and Sweden.

Last updated: Nov 8, 2023