Lantheus Holdings, a leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, announced a definitive agreement to acquire Life Molecular Imaging in an all-cash transaction consisting of an upfront payment of $350 million and up to an additional $400 million in potential earn-out and milestone payments. And Life Molecular, a Life Healthcare Group Holdings subsidiary, is dedicated to advancing novel Positron Emission Tomography (PET) radiopharmaceutical diagnostics.
The deal is expected to immediately enhance Lantheus’ near and long-term growth profile and establish a commercial Alzheimer’s disease (AD) franchise with the addition of Neuraceq (florbetaben F18 injection). And Neuraceq is a globally approved, F-18 radioactive diagnostic agent indicated for PET brain imaging to estimate β-amyloid neuritic plaque density in adult patients with cognitive impairment who are being evaluated for AD and other causes of cognitive decline.
Neuraceq could be used to confirm eligibility for new AD therapies. Life Molecular also provides robust R&D capabilities, a strong commercial infrastructure, and an established international presence, which Lantheus plans to utilize to accelerate the development, advancement, and commercialization of the combined company’s pipeline. The transaction is expected to be accretive to Lantheus’ Adjusted Earnings Per Share within 12 months of close.
KEY QUOTES:
“This acquisition aligns with our strategy to drive long-term growth and value creation by investing in high-potential, complementary assets and R&D capabilities to strengthen our radiopharmaceutical leadership. This is a natural extension of our existing RM2 partnership, and we are ideally equipped to collectively grow Neuraceq and advance Life Molecular’s diverse radiopharmaceutical assets. We are excited to welcome their exceptionally talented team, whose expertise will further enhance our capabilities in the development and commercialization of innovative radiodiagnostic solutions. With our combined resources and financial strength, we are well-positioned to deliver a meaningful impact for patients and clinicians worldwide.”
– Brian Markison, CEO of Lantheus
“Life Healthcare is proud to have been the steward for Life Molecular and is pleased to have found a partner who recognizes the value of the business we have nurtured. We invested in LMI with the vision of developing solutions that can improve patient outcomes, and we are confident in Lantheus’ ability to accelerate its growth.”
– Peter Wharton-Hood, Chief Executive of Life Healthcare
