Perspective and Lantheus swap radiopharmaceutical candidate, manufacturing site
10 Jan 2024
License out/inAcquisitionDrug Approval
Lantheus and Perspective Therapeutics partnered on Tuesday to progress an early-stage pipeline of radiopharmaceuticals, a burgeoning modality that saw a pair of billion-plus takeouts at the end of 2023.
Lantheus paid $28 million up front to gain an option to exclusively license Perspective’s radiopharmaceutical Pb212-VMT-⍺-NET, which is in a Phase I/II trial to treat neuroendocrine tumours. The company, which also received an option to co-develop undisclosed early-stage prostate cancer candidates, agreed to purchase just under 20% of Perspective’s outstanding shares for about $33 million.
The licensing deal is set to Lantheus’ existing radiopharmaceutical pipeline. The company has four clinical compounds, including a PSMA-targeted prostate cancer candidate and one targeting SSTR for neuroendocrine tumours, both of which Lantheus in-licensed from POINT Bio under a 2022 deal worth up to $2 billion.
Eli Lilly closed its proposed $1.4 billion takeout of POINT Bio in December, just one day after Bristol Myers Squibb agreed to shell out $4.1 billion to acquire fellow radiopharmaceutical company RayzeBio.
Manufacturing also key to deal
To enable the development of its radiopharmaceutical pipeline, Perspective will acquire Lantheus’ manufacturing facility in Somerset, New Jersey at an undisclosed price.
Manufacturing is a particular challenge for radiopharmaceuticals, which have a very short shelf life and must be delivered to a patient within days of production.
Last week, Novartis – the only company with an approved radiopharmaceutical on the market – received FDA approval for its new radioligand manufacturing facility in Indianapolis, Indiana, which it said will bring "substantial supply increases” of Pluvicto (lutetium 177 vipivotide tetraxetan). Sales of the prostate cancer treatment were inconsistent last year as a result of ongoing production issues at two manufacturing sites that had dented supply.
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