Lantheus set to close $750M acquisition of PET agent developer Life Molecular Imaging

Drugmaker Lantheus Holdings Inc. is set to finalize its proposed acquisition of PET agent developer Life Molecular Imaging for up to $750 million. 

The Bedford, Massachusetts-based radiopharma firm first announced it had signed a “definitive” agreement to buy its rival via an all-cash transaction in January. Six months later, all key conditions have now been met, including approval by LMI parent company Life Healthcare Group’s shareholders, along with regulatory clearances. 

Life Molecular Imaging expects the transaction to close by July 21, triggering an upfront payment from Lantheus. 

“We look forward to seeing the progress of LMI under the custodianship of Lantheus, which will provide further benefit to shareholders through  future earnouts,” Life Healthcare CEO Peter Wharton-Hood said in a July 14 announcement.

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, Lantheus said earlier this year. 

Life Healthcare Group estimated that net proceeds from the upfront payment will be about $200 million. Lantheus also committed previously to issuing up to $400 million more in potential earn-out and milestone payments. 

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.