GRAND PHARMA (00512) sells partial equity of Telix, the proceeds will aid in clinical development and demonstrate long-term cooperation confidence.

GRAND PHARMA (00512) announced that it has completed the sale of a portion of its stake in Telix Pharmaceuticals Limited ("Telix"), a company listed on the Australian Securities Exchange and Nasdaq (stock codes ASX: TLX, Nasdaq: TLX). The company sold approximately 45.2% of its shares in Telix (4.9472 million shares) through off-market trading, for approximately AUD 143 million. The proceeds will be used for the group's clinical development plans in underserved areas, including projects in collaboration with Telix. The group does not intend to further sell its remaining 6 million shares in Telix within the next 12 months. In November 2020, the group made a strategic equity investment of USD 25 million (equivalent to approximately AUD 35 million), acquiring 20.9472 million fully paid ordinary shares of Telix through private placement at an issue price of AUD 1.69 per share. The group also has exclusive development and commercialization rights for Telix's prostate cancer, kidney cancer, and brain cancer (glioblastoma) imaging and treatment products in the Greater China market. Mr. Zhou Chao, CEO of the company, stated: "Telix is an important strategic partner for the group. To date, Telix's first prostate cancer imaging agent TLX591-CDx has been successfully marketed in the United States, Australia, and Canada, with positive feedback on its market application in Europe, laying the groundwork for its launch in 19 countries by 2025. The product achieved approximately AUD 783 million in global sales in 2024, an increase of nearly 56% year-on-year, which is very encouraging for us. In addition, the development of Telix's innovative radiopharmaceuticals (RDC) is progressing smoothly, including the submission of TLX250-CDx for kidney cancer imaging biologics marketing approval to the US FDA, which has been accepted and placed under priority review. Therefore, we are very optimistic about its future prospects, as well as the potential for further value creation with Telix as we work together to develop potential new imaging agents and therapies for the Chinese market. As investors, we are also pleased to see our initial investment vision realized. We have informed Telix of our intention not to sell our remaining holdings within the next 12 months, demonstrating our confidence in Telix and our ongoing commitment to our partnership."