On November 29, 2022 Full-Life Technologies, a fully integrated global radiotherapeutics company, reported an agreement to acquire New Jersey-based Focus-X Therapeutics, a company developing targeted radiopharmaceuticals to treat cancer based on proprietary peptide engineering technology (Press release, Full-Life Technologies, NOV 29, 2022, View Source [SID1234624543]). The acquisition expands Full-Life’s pipeline, including two compounds nearing clinical trials, provides a second innovative peptide focused discovery platform, and leverages its Radio Technology manufacturing and logistics platforms to advance compounds into clinical development.

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Under the terms of the acquisition, Focus-X shareholders are eligible to receive from Full-Life an upfront payment, potential development, regulatory and sales-based milestones of up to $245 million and royalties on any commercial sales. The acquisition is expected to close in the first quarter of 2023.

"The Focus-X acquisition perfectly leverages Full-Life’s radiotechnology and development platform by adding two development ready compounds, including a lead with initial human data, a robust pipeline and world class peptide discovery capabilities," said Lanny Sun, Co-founder, Chairman and CEO of Full-Life.