Lantheus Expands Radiopharmaceutical Oncology Pipeline via Strategic Agreements with Perspective Therapeutics
09 Janeiro 2024 - 10:00AM
Lantheus Holdings, Inc. (Lantheus) (NASDAQ: LNTH) today announced
it has entered into multiple strategic agreements with Perspective
Therapeutics, Inc. (Perspective) (NYSE AMERICAN: CATX), a
radiopharmaceutical company that is pioneering advanced treatment
applications for cancers throughout the body. 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.”
Thijs Spoor, Chief Executive Officer of Perspective, stated,
“Perspective stands at the forefront of innovation in precision
oncology, particularly in the development of alpha therapies and
complementary diagnostic imaging agents. In addition, Perspective’s
acquisition of the Somerset radiopharmaceutical manufacturing
facility will provide the company with an in-house manufacturing
footprint to support its lead portfolio.”
“This collaboration with Lantheus, a leader in the
radiopharmaceutical space, marks a significant milestone in
advancing treatment options for various cancers, bringing us closer
to more effective and targeted interventions,” continued Mr.
Spoor.
The options took effect immediately following execution of the
related definitive agreements. Under the terms of the option
agreement, Lantheus also has a right of first offer and last look
protections for any third party merger and acquisition transactions
involving Perspective for a twelve-month period. The closing of
Perspective’s acquisition of the assets and associated lease of the
Somerset manufacturing facility is subject to customary closing
conditions, including regulatory approval. The closing of Lantheus’
equity investment in Perspective is subject to the closing of
Perspective’s next qualifying third party equity financing totaling
at least $50 million (excluding Lantheus’ equity investment) and
other customary closing conditions and will be consummated
concurrently with the closing of Perspective’s next third party
equity financing. The purchase price per share is also subject to
adjustment based on such third party qualifying equity
financing.
This press release shall not constitute an offer to sell
or a solicitation of an offer to buy any securities of Perspective,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other
jurisdiction.
About Lantheus
Lantheus is the leading radiopharmaceutical-focused company,
delivering life-changing science to enable clinicians to Find,
Fight and Follow disease to deliver better patient outcomes.
Headquartered in Massachusetts with offices in New Jersey, Canada
and Sweden, Lantheus has been providing radiopharmaceutical
solutions for more than 65 years. For more information, visit
www.lantheus.com.
About VMT-α-NET
VMT-α-NET is a clinical stage targeted alpha particle therapy
(TAT) radiopharmaceutical being developed for the treatment and
diagnosis of somatostatin receptor subtype 2 (SSTR2) expressing
neuroendocrine tumors, which are a rare and difficult-to-treat type
of cancer. VMT-α-NET incorporates Perspective Therapeutics'
proprietary lead-specific chelator (PSC) to bind 203Pb for SPECT
imaging, and 212Pb for alpha particle therapy.
About Perspective Therapeutics,
Inc.
Perspective Therapeutics, Inc., is a diversified medical
technology and radiopharmaceutical company that is pioneering
advanced treatment applications for cancers throughout the body.
The Company has a proprietary technology that utilizes the alpha
emitting isotope Lead-212 to deliver powerful radiation
specifically to cancer cells via specialized targeting peptides.
The Company is also developing complementary imaging diagnostics
that incorporate the same targeting peptides which provide the
opportunity to personalize treatment and optimize patient outcomes.
This "theranostic" approach enables the ability to see the specific
tumor and then treat it to potentially improve efficacy and
minimize toxicity associated with many other types of cancer
treatments.
The Company's melanoma (VMT01) and neuroendocrine tumor
(VMT-α-NET) programs have entered Phase 1/2a imaging and therapy
trials for the treatment of metastatic melanoma and neuroendocrine
tumors at several leading academic institutions in the United
States. The Company has also developed a proprietary Lead-212
generator to secure key isotopes for clinical trial and commercial
operations.
In addition to its targeted alpha therapy programs, Perspective
is the sole producer of Cesium-131 brachytherapy seeds which is
commercially available in the United States for the treatment of
prostate cancer and other solid tumors.
For more information, please visit the Company's website at
www.perspectivetherapeutics.com.
Safe Harbor for Forward-Looking and Cautionary
Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, that are subject to risks and uncertainties and
are made pursuant to the safe harbor provisions of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements may be identified by their use of terms such as “aims,”
“create,” “develop,” “expand,” “will,” and other similar terms.
Such forward-looking statements are based upon current plans,
estimates and expectations that are subject to risks and
uncertainties that could cause actual results to materially differ
from those described in the forward-looking statements. The
inclusion of forward-looking statements should not be regarded as a
representation that such plans, estimates and expectations will be
achieved. Readers are cautioned not to place undue reliance on the
forward-looking statements contained herein, which speak only as of
the date hereof. Lantheus undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by law. Risks and uncertainties that could cause our
actual results to materially differ from those described in the
forward-looking statements include : (i) our ability to
successfully execute the agreements referenced herein, including
finalizing the license agreements and satisfying the closing
conditions for the sale of the Somerset, NJ manufacturing facility
and related assets; (ii) the continued development of Perspective’s
alpha-particle therapy and proprietary technology platform; (iii)
the value of our equity interest in Perspective; and (iv) the risks
and uncertainties discussed in our filings with the Securities and
Exchange Commission (including those described in the Risk Factors
section in our most recently filed Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q).
Contacts:LantheusMark
KinarneyVice President, Investor
Relations978-671-8842ir@lantheus.com
Melissa Downs Senior Director, External
Communications646-975-2533media@lantheus.com
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