On April 11, 2024, Telix Pharmaceuticals has acquired ARTMS Inc., a spin-off from TRIUMF, Canada's particle accelerator center, for $113 million (US$82 million). This acquisition marks the largest-ever buyout of a TRIUMF spin-off and signifies a significant advancement in the production of radiopharmaceuticals for diagnosing and treating cancer and other diseases.

Nigel Smith, CEO and Executive Director of TRIUMF, highlighted the acquisition as a testament to the impact of federal support for fundamental science in spurring innovation and benefiting people globally. ARTMS, renowned for its breakthrough technology that produces key diagnostic imaging isotopes, was developed in response to a global shortage precipitated by the closure of the NRU reactor in Chalk River.

Dr. Paul Schaffer, Director of TRIUMF Life Sciences and a founder of ARTMS, emphasized the company's critical role in strengthening isotope supply chains and supporting life-saving medical research. ARTMS' journey from its inception to market success over 15 years was supported by federal funding initiatives such as the NISP and ITAP programs, along with investments from Quark Venture – Global Health Science Fund.

Kathryn Hayashi, CEO of TRIUMF Innovations, stressed the importance of collaboration between public and private sectors in driving innovation. She credited Canada's robust infrastructure and expert communities, like those at TRIUMF, for enabling the launch and success of companies like ARTMS.