Lantheus expands radiopharmaceutical oncology pipeline via agreements

Lantheus Holdings (LNTH) announced it has entered into multiple strategic agreements with Perspective Therapeutics (CATX) Under the agreements, 1) Lantheus obtains an option to exclusively license Perspective’s Pb212-VMT–NET, a clinical stage alpha therapy developed for the treatment of neuroendocrine tumors, and an option to co-develop certain early stage therapeutic candidates targeting prostate cancer using Perspective’s innovative lead platform technology, for an aggregate upfront payment of $28 million in cash; 2) Lantheus has agreed to purchase up to 19.9% of Perspective’s outstanding shares of common stock for up to approximately $33 million, subject to completion of a qualified third party financing transaction and certain other closing conditions; and 3) Perspective intends to acquire the assets and associated lease of Lantheus’ radiopharmaceutical manufacturing facility in Somerset, New Jersey for an undisclosed price. “These strategic transactions will expand our pipeline and create a pathway for impactful advancements in neuroendocrine tumors and prostate cancer,” said Mary Anne Heino, Chief Executive Officer of Lantheus. “We are excited to partner with Perspective, which has developed a best-in-class alpha therapy platform for lead-based therapies, and we are particularly encouraged by the early data from VMT–NET. This potentially enables Lantheus to expand our pipeline into promising alpha therapies and further solidifies our position as the leading radiopharmaceutical-focused company.”