Heidelberg Pharma Receives Upfront Payment from HealthCare Royalty Agreement

Heidelberg Pharma AG, a biotech firm focused on developing innovative Antibody Drug Conjugates (ADCs), has officially received a non-refundable upfront cash payment of USD 25 million as part of its royalty purchase agreement with HealthCare Royalty (HCRx). This transaction, which pertains to Zircaix®, a radiopharmaceutical agent, was finalized earlier this month. The agreement also makes Heidelberg Pharma eligible for up to USD 90 million from future royalties on global sales of Zircaix®.

Zircaix® is designed for the diagnosis and management of clear cell carcinomas, developed by Heidelberg Pharma and licensed to Telix Pharmaceuticals Limited in 2017. Telix has recently submitted the Biologics License Application for Zircaix®. The funding from this agreement will support Heidelberg Pharma's advancement in ADC research, particularly its Amanitin-based Antibody Conjugate pipeline, including the leading candidate HDP-101 for multiple myeloma treatment. Dr. George Badescu highlighted the importance of the funding in strengthening the company’s liquidity and funding its ADC pipeline expansion.