Telix Pharmaceuticals hits all-time high as it acquires Lightpoint Medical

Telix Pharmaceuticals experienced a more than 3% increase in its stock price, reaching an all-time high, following its announcement of the acquisition of UK-based medical device company Lightpoint Medical. Telix has agreed to purchase Lightpoint and its radio-guided surgery business, SENSEI, which specialises in real-time intraoperative cancer detection. The upfront equity payment for the acquisition amounts to $20 million, with an additional earn-out payment of $15 million upon the completion of certain milestones. This deal builds upon the strategic collaboration initiated between Telix and Lightpoint in August 2021 for the development of SENSEI for prostate cancer. Telix plans to integrate the Lightpoint SENSEI business into its operations, creating a dedicated surgeon-focused business unit. The acquisition will be funded through a share placement and is expected to close in three months.

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