Nuclear fusion and medical isotope developer Shine Technologies has entered an agreement to acquire Lantheus Holdings’ SPECT business.
The acquisition includes the company’s technetium-99 (Tc-99) diagnostic imaging agents, a Tc-99m generator, its Xenon (Xe-133) gas agent for VQ scans, and the portion of the North Billerica, MA, campus that manufactures the SPECT products. Terms of the deal were undisclosed.
"This acquisition builds on our longstanding partnership with Lantheus and we are confident the SPECT business and the talented team will significantly strengthen our platform," said Greg Piefer, chief executive officer of Shine, in a news release.
Lantheus noted that the sale will allow the company to focus on growing its commercial portfolio of PET radiodiagnostics and microbubbles, while advancing its pipeline of radiopharmaceuticals.
In January, Lantheus announced plans to acquire theranostic radiopharmaceutical manufacturer Evergreen Theragnostics for an upfront payment of $250 million and up to $752.5 million in potential milestone payments. The company also plans to acquire PET radiopharmaceutical developer Life Molecular Imaging for an upfront payment of $350 million.
Lantheus will receive an upfront cash payment from Shine, a note convertible into Shine preferred stock, and additional consideration, including potential earnout milestones. The transaction is expected to close by the end of the year, subject to customary closing conditions.
The SPECT business has been a foundational part of Lantheus for nearly 70 years, the company noted.
