Business
Lantheus and POINT Biopharma Announce Strategic Collaboration and Exclusive License Agreements for the Commercialization of PNT2002 & PNT2003
Collaboration pairs POINT’s expertise in next generation radioligand development and manufacturing with Lantheus’ commercial leadership in PSMA PET and
About this update from Lantheus Holdings, Inc.
[{"type":"text","content":"Collaboration pairs POINT’s expertise in next generation radioligand development and manufacturing with Lantheus’ commercial leadership in PSMA PET and radiopharmaceuticals Expands Lantheus’ portfolio with license of exclusive worldwide rights, excluding certain territories1, to two late-stage therapeutic agents NORTH BILLERICA, Mass. and INDIANAPOLIS, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (”Lantheus”) (NASDAQ: LNTH), a company committed to improving patient outcomes through diagnostics, radiotherapeutics and artificial intelligence solutions that enable clinicians to Find, Fight and Follow disease, and POINT Biopharma Global Inc. (“POINT”) (NASDAQ: PNT), a company accelerating the discovery, development and global access to life-changing radiopharmaceuticals, today announced a set of strategic collaboration agreements in which Lantheus will license exclusive worldwide rights1 to POINT’s PNT2002 and PNT2003 product candidates. Upon consummation of the agreements, in exchange for the exclusive worldwide rights1, Lantheus will pay a total of $260 million in upfront payments between the two agreements to POINT, with the potential for additional milestone payments of approximately $1.8 billion between the two products based on U.S. Food and Drug Administration (FDA) approval and net sales and commercial milestones. Additionally, Lantheus will pay POINT royalties on net sales, beyond certain financial thresholds and subject to conditions, of 20% for PNT2002 and 15% for PNT2003. Additional terms of the agreements are summarized below and a website with more information about the collaboration is accessible at www.strategiccollaboration.net. The agreements expand Lantheus’ radiopharmaceutical portfolio with two late-stage therapeutic candidates and, with PNT2002, broadens Lantheus’ prostate cancer franchise. For POINT, the agreement pairs PNT2002 and PNT2003 with an ideal commercialization partner, and offsets launch and marketing risks, while still maintaining the value and independence of POINT’s next generation radioligand platform. Lantheus expects the agreements to drive long-term, sustainable revenue and free cash flow growth and be accretive to its Adjusted Earnings Per Share (Adjusted EPS) shortly following commercialization of PNT2002. Under the agreements, POINT will fund and complete its Phase 3 SPLASH tr...