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AH: Heidelberg Pharma Amends Royalty Financing with HealthCare Royalty

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  • HealthCare Royalty and Heidelberg Pharma amend royalty financing agreement to provide for USD 20 million payment
  • Heidelberg Pharma extends cash runway into 2027

Ladenburg, Germany, 12 March 2025 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech Company developing innovative Antibody Drug Conjugates (ADCs), and HealthCare Royalty (HCRx) today announced that they have signed an amendment to the royalty financing agreement entered into in March 2024.

The March 2024 royalty financing agreement and current amendment cover the partial monetization of Heidelberg Pharma’s future royalties on the worldwide sales of TLX250-CDx, a radiopharmaceutical Positron Emission Tomography (PET) imaging agent for the diagnosis and characterization of clear cell renal cancer.

Key terms of the amended agreement between Heidelberg Pharma and HCRx are as follows:

  • Heidelberg Pharma will receive a payment of USD 20 million upon signature.
  • The USD 15 million sales-based milestone for year 2025 is eliminated due to the delay of the potential market launch of TLX250-CDx; FDA approval could be granted by 27 August 2025.
  • The originally agreed USD 75 million payment upon FDA approval of TLX250-CDx will be reduced to USD 70 million, with further reductions if FDA approval occurs after the end of 2025.
  • The second tier of the two-tier escalating cap on cumulative royalties sold to HCRx has increased. When the escalating cap has been reached, royalty payments will return to Heidelberg Pharma and HCRx will receive a low single digit royalty tail percentage thereof.

Based on the agreement with HCRx and expected incremental payments of USD 90 million to Heidelberg Pharma, the company anticipates an extended cash runway into 2027.

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About TLX250-CDx

TLX250-CDx is a radiolabeled form of the antibody girentuximab which binds to the tumor-specific antigen CAIX on clear cell renal cell carcinomas. TLX250-CDx also has potential as a PET diagnostic imaging agent for other tumor types. Heidelberg Pharma developed the antibody up to a first completed Phase III clinical trial prior to licensing it to Telix Pharmaceuticals Limited (Telix), an Australian company based in Melbourne, in 2017.