Telix to Supply Bayer with Illuccix® for Global Phase III Prostate Cancer Study

MELBOURNE,Australia,May 8,2023 -- Telix Pharmaceuticals Limited (ASX: TLX,Telix,the Company) today announces that it has entered into an agreement with Bayer AG (Bayer) to supply Illuccix® (TLX591-CDx,kit for the preparation of gallium Ga 68 gozetotide injection)[1] for the Phase III ARASTEP study (ClinicalTrials.gov Identifier: NCT05794906). This global study is investigating the efficacy of Bayer's androgen receptor inhibitor (ARi) darolutamide plus androgen deprivation therapy (ADT) versus ADT alone in hormone-sensitive prostate cancer,in patients with high-risk biochemical recurrence who have no evidence of metastatic disease by conventional imaging and a positive PSMA-PET/CT[2] at baseline.

The study will enrol up to 750 patients across various sites such as in Europe,Japan and the United States. The more sensitive PSMA imaging may identify prostate cancer lesions not detectable by conventional imaging such as computed tomography (CT) scans,magnetic resonance imaging (MRI) and bone scans.

Telix Chief Medical Officer,Dr Colin Hayward stated,"We are pleased to supply Bayer and a number of clinical sites in this important study,reflective of Telix's unique commitment to delivering advanced prostate cancer imaging globally. The use of PSMA-PET/CT in this setting is illustrative of the potential for this imaging modality to move beyond diagnosis to a disease management tool."

About Bayer AG

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time,the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust,reliability and quality throughout the world. In fiscal 2022,the Group employed around 101,000 people and had sales of 50.7 billion euros. R&D expenses before special items amounted to 6.2 billion euros. For more information,go to www.bayer.com.

BAYER,the Bayer Cross and NUBEQA are registered trademarks of Bayer.

About darolutamide

Darolutamide is an oral ARi with a distinct chemical structure that binds to the receptor with high affinity and exhibits strong antagonistic activity,thereby inhibiting the receptor function and the growth of prostate cancer cells.

The product is approved under the brand name Nubeqa™ in more than 80 countries around the world for the treatment of patients with non-metastatic castration-resistant prostate cancer (nmCRPC). It is also approved for the treatment of patients with metastatic hormone-sensitive prostate cancer (mHSPC) in a number of markets including the U.S.,Japan,China and the EU. The compound is also being investigated in further studies across various stages of prostate cancer.

Darolutamide is developed jointly by Bayer and Orion Corporation,a globally operating Finnish pharmaceutical company.

About Telix Pharmaceuticals Limited

Telix is a biopharmaceutical company focused on the development and commercialisation of diagnostic and therapeutic radiopharmaceuticals. Telix is headquartered in Melbourne,Australia with international operations in the United States,Europe (Belgium and Switzerland),and Japan. Telix is developing a portfolio of clinical-stage products that aims to address significant unmet medical need in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX).

Visit www.telixpharma.comfor further information about Telix,including details of the latest share price,announcements made to the ASX,investor and analyst presentations,news releases,event details and other publications that may be of interest. You can also follow Telix on Twitter (@TelixPharma) and LinkedIn.

About Illuccix®

Telix's lead product,Illuccix® (gallium-68 (68Ga) gozetotide (also known as 68Ga PSMA-11) injection),has been approved by the U.S. Food and Drug Administration (FDA),[3] and by the Australian Therapeutic Goods Administration (TGA),[4] and by Health Canada.[5] Telix is also progressing a marketing authorisation application for this investigational candidate in the United Kingdom and the European Union.[6]

Telix Investor Relations

Ms. Kyahn Williamson

Telix Pharmaceuticals Limited

SVP Corporate Communications and Investor Relations

Email: kyahn.williamson@telixpharma.com

Legal Notices

This announcement is not intended as promotion or advertising directed to any healthcare professional or other audience in any country worldwide (including Australia,United States and the United Kingdom). This announcement may include forward-looking statements that relate to anticipated future events,financial performance,plans,strategies or business developments. Forward-looking statements can generally be identified by the use of words such as "may","expect","intend","plan","estimate","anticipate","outlook","forecast" and "guidance",or other similar words. Forward-looking statements involve known and unknown risks,uncertainties and other factors that may cause our actual results,levels of activity,performance or achievements to differ materially from any future results,performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on the Company's good-faith assumptions as to the financial,market,regulatory and other risks and considerations that exist and affect the Company's business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix's business,forward-looking statements may include,but are not limited to,statements about: the initiation,timing,progress and results of Telix's preclinical and clinical studies,and Telix's research and development programs; Telix's ability to advance product candidates into,enrol and successfully complete,clinical studies,including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals,manufacturing activities and product marketing activities; the commercialisation of Telix's product candidates,if or when they have been approved; estimates of Telix's expenses,future revenues and capital requirements; Telix's financial performance; developments relating to Telix's competitors and industry; and the pricing and reimbursement of Telix's product candidates,if and after they have been approved. Telix's actual results,performance or achievements may be materially different from those which may be expressed or implied by such statements,and the differences may be adverse. Accordingly,you should not place undue reliance on these forward-looking statements.

Except as required by applicable laws or regulations,Telix does not undertake to publicly update or review any forward-looking statements. Past performance cannot be relied on as a guide to future performance. Readers should read this announcement together with our material risks,as disclosed in our most recently filed reports with the ASX and on our website.

©2023 Telix Pharmaceuticals Limited. The Telix Pharmaceuticals and Illuccix name and logo are trademarks of Telix Pharmaceuticals Limited and its affiliates (all rights reserved).

[1] For regulatory reasons,Telix refers to its 68 Ga-PSMA-11 kit as Illuccix in markets where it has received regulatory approval,and TLX591-CDx when referring to its use in both approved and unapproved markets. Registrations vary country to country. Always refer to local labelling.

[2] Imaging of prostate-specific membrane antigen with positron emission tomography/computed tomography.

[3]Telix ASX disclosure 20 December 2021.

[4]Telix ASX disclosure 2 November 2021.

[5]Telix ASX disclosure 14 October 2022.

[6]Telix ASX disclosure 3 April 2023.