Telix Pharmaceuticals Ltd. completed the acquisition of Belgium-based Advanced Nuclear Medicine Ingredients SA in a cash and stock deal.
Under the agreement, Telix will make and an upfront payment of about €3.2 million in shares and €2 million in cash.
The cash consideration comprises a payment of €1.7 million to Advanced Nuclear shareholders and a €300,000 repayment of a convertible loan to Advanced Nuclear from an investor.
Telix has agreed to assume €800,000 of Advanced Nuclear debt's and will give performance-based deferred cash payments on product sales for a period of five years after first marketing authorization of an Advanced Nuclear product in either the U.S. or EU.
Advanced Nuclear develops radiopharmaceutical solutions, or compounds with radioactivity, which can be used to treat or diagnose diseases.
North Melbourne, Victoria-based Telix develops radiation products for cancer care.