Heidelberg Pharma and HealthCare Royalty Announce Amendment to Existing Royalty Agreement and the Participation of Soleus Capital
- Heidelberg Pharma is eligible to receive USD 20 million upfront funded by Soleus Capital, subject to closing conditions
- USD 25 million to be funded by Soleus Capital upon FDA approval of Telix Pharmaceuticals’ imaging diagnostic agent TLX250-Px; HCRx payment upon approval still in place
Ladenburg, Germany, 9 March 2026 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech company developing innovative Antibody Drug Conjugates (ADCs), announced on 7 March an additional amendment to its existing royalty purchase agreement with HealthCare Royalty (HCRx) and the participation of Soleus Capital Management, L.P. (Soleus Capital), a US-based life sciences investment firm, on behalf of its Soleus Capital Credit Opportunities Fund I, L.P. (and its affiliated funds). The amended agreement covers the partial monetization of Heidelberg Pharma’s future royalties on the worldwide sales of Telix Pharmaceuticals’ imaging diagnostic agent TLX250-Px. In conjunction with the amendment, Heidelberg Pharma is eligible to receive USD 20 million from Soleus Capital, subject to customary closing conditions. Another payment of USD 25 million will become due upon FDA approval of TLX250-Px.
In March 2024, Heidelberg Pharma entered into an agreement with HCRx for the sale of royalties on TLX250-Px up to a defined cap, which agreement was subsequently amended in March 2025. As part of the current amendment, Heidelberg Pharma has agreed to an increased cap on total payments alongside certain other contractual changes. The participation of Soleus Capital has no impact on the payments from HCRx.
Key terms of the agreement between Heidelberg Pharma, HCRx and Soleus Capital are:
- Heidelberg Pharma will receive a USD 20 million payment under the amended agreement, funded by Soleus Capital, subject to customary closing conditions expected to be fulfilled shortly.
- Heidelberg Pharma will receive another USD 25 million payment funded by Soleus Capital upon FDA approval of TLX250-Px. The calculation of the FDA approval milestone payment from HCRx under the existing agreement remains unchanged under this amendment.
- Once the maximum cumulative amount of royalties sold is reached under the amended agreement, a high single-digit royalty tail percentage amount will be due under the amended agreement and remaining royalty payments will revert to Heidelberg Pharma.
- Based on current planning, available funds and the today signed agreement, the Company’s financing will be secured until mid-2027.
Dr Dongzhou Jeffery Liu, Chief Executive Officer of Heidelberg Pharma, commented: “We are very delighted that Soleus Capital joined the existing agreement with HCRx. The initial milestone payment from Soleus Capital will provide us with non-dilutive financing and will secure the Company’s financing until mid-2027. We are confident that TLX250-Px will receive FDA approval, that will trigger further milestone payments from our partners HCRx and Soleus Capital.”
“We are excited to partner with Heidelberg Pharma and HCRx on this transaction,” said Ben Lund, Partner at Soleus Capital. “There is significant unmet need for effective diagnostic agents for kidney cancer. Following approval by global regulatory authorities, we believe that TLX250-Px will become the new standard-of-care for the identification of clear cell renal cell carcinoma and other CAIX-expressing tumors.”
