Lantheus to acquire PET agent developer Life Molecular Imaging for up to $750M
Drugmaker Lantheus Holdings Inc. has inked a deal to acquire PET agent developer Life Molecular Imaging in a deal worth up to $750 million, the two announced Monday.
The Bedford, Massachusetts, radiopharma firm has signed a “definitive” agreement to buy its rival in an all-cash transaction. Lantheus plans to issue an upfront sum of $350 million and another $400 million in potential earn-out and milestone payments.
Life Molecular Imaging is the maker of Neuraceq, a globally approved F-18 PET imaging agent used to detect beta-amyloid plaques in patients evaluated for Alzheimer’s. The Berlin, Germany, company also has “robust” research and development capabilities, a “strong” commercial infrastructure, and “established” international presence.
“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,” Lantheus CEO Brian Markison said in a statement shared Jan. 13. “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.”
The deal comes after Lantheus in June acquired the global rights to Life Molecular Imaging’s clinical-stage radiotherapeutic and radiodiagnostic pair, 177Lu-DOTA-RM2 and 68Ga-DOTA-RM2. The two target the gastrin-releasing peptide receptor for prostate, breast and other cancers, strengthening Lantheus’ oncology pipeline and allowing it to potentially enter new disease areas.
Along with the upfront payment, Lantheus also may pay up to $30 million toward Life Molecular Imaging’s “retained future contingent liabilities under certain contractual arrangements.” Both companies’ boards have already approved the transaction, which they hope to close sometime in the second half of 2025. The deal is still subject to closing conditions, including approval by LMI parent company Life Healthcare Group’s shareholders, regulatory clearances, and foreign investment laws.
One of the largest radiopharma companies in the world, Lantheus also sells Pylarify. The product is a targeted PET agent for pinpointing suspected metastasis or recurrence of prostate cancer, which saw sales north of $1 billion in 2024.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.