ITM Isotope Technologies Munich SE acquired by Telix Pharmaceuticals Limited
Telix Pharmaceuticals Limited agreed to acquire ITM Isotope Technologies Munich SE, a German radiopharmaceuticals brand.
Transaction summary
- Target
- ITM Isotope Technologies Munich SE
- Acquirer
- Telix Pharmaceuticals Limited
- Seller
- ITM shareholders
- Announced
- -
- Geography
- Germany
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 100%
- First added
- 2026-09-24
- Latest update
- 2026-09-29
Value and multiples
100% enterprise value
USD 1.6B
100% enterprise value | USD
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
6.04x
Period: FY2025
Basis: Derived from source data
EV / EBITDA
-
EBITDA basis not stated
Basis: Derived from source data
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 1.6B
Telix's 2026-09-20 announcement states US$1.65bn upfront for 100% of ITM on a cash-free/debt-free basis, with up to US$700m additional contingent consideration. The upfront amount is retained as consideration, not enterprise value. BioSpace separately reports Telix will take on more than $300m of ITM debt at closing; that amount is not added here.
Basis
- Telix explicitly prices 100% of ITM at US$1.65bn upfront on a cash-free/debt-free basis. Its breakdown includes US$302m assumed net debt within that total; do not add the debt twice. Up to US$700m contingent consideration is excluded from this upfront EV basis.
Source summary
Telix and ITM Join Forces to Create a Radiopharmaceutical Powerhouse
ConfirmedTelix announced on 2026-09-20 that it would acquire 100% of ITM for US$1.65bn upfront, plus up to US$700m contingent consideration. BioSpace reported ITM revenue of $273m for 2025; the upfront consideration divided by that reported revenue implies a derived 6.04x price/revenue multiple.
Open sourceTelix buys ITM in bid to create a ‘radiopharmaceutical powerhouse’
ConfirmedTelix announced on 2026-09-20 that it would acquire 100% of ITM for US$1.65bn upfront, plus up to US$700m contingent consideration. BioSpace reported ITM revenue of $273m for 2025; the upfront consideration divided by that reported revenue implies a derived 6.04x price/revenue multiple.
Open source100% EV basis review
ConfirmedTelix explicitly prices 100% of ITM at US$1.65bn upfront on a cash-free/debt-free basis. Its breakdown includes US$302m assumed net debt within that total; do not add the debt twice. Up to US$700m contingent consideration is excluded from this upfront EV basis.
Open sourceContinue your research
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