Lantheus Holdings (LNTH) Acquires NAV-4694

Lantheus Holdings, Inc. (“Lantheus”) (NASDAQ: LNTH), the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, today announced its acquisition of Meilleur Technologies, Inc., which includes NAV-4694, expanding Lantheus’ Alzheimer’s disease pipeline.

Through this acquisition, Lantheus now has the worldwide exclusive rights to ß amyloid PET (positron emission tomography) imaging agent, NAV-4694, also known as F18-flutafuranol. NAV-4694 is currently in Phase 3 development and is also being used in academic and industry investigational therapeutic trials. The acquisition of this asset broadens Lantheus’ Alzheimer’s diagnostic portfolio and complements Lantheus’ next generation F18-labeled PET imaging agent candidate, MK-6240 (also known as florquinitau), which targets tau tangles in Alzheimer’s disease.

Recently published updated guidelines developed by a working group of the National Institute on Aging and the Alzheimer's Association (NIA-AA) state that Alzheimer’s disease should be defined biologically, using protein-based biomarkers. These guidelines recommend that biomarkers, including both amyloid- and tau-PET imaging, may be used to diagnose Alzheimer's disease and provide an indication of its severity.¹

“This acquisition solidifies our commitment to neurology, specifically for Alzheimer’s disease management, and reinforces our radiopharmaceutical leadership,” said Brian Markison, CEO, Lantheus. “With the combination of MK-6240 and NAV-4694, we are poised to provide important insights for guiding the use and assessing the impact of novel disease-modifying Alzheimer’s treatments.”

Under the terms of the agreement, Lantheus will provide an upfront payment as well as potential additional development and commercial milestone payments. Additionally, Lantheus will make royalty payments for research revenue and commercial sales. Structured as a stock purchase, the agreement specifies, among other things, that the sellers will also provide transition and clinical development services for a prescribed time following the closing of the transaction.

“We are excited by the potential of NAV-4694 for earlier identification of Alzheimer’s patients, empowering clinicians to select suitable candidates for timely therapeutic interventions,” said Rick Hiatt, Chief Executive Officer, Meilleur Technologies, Inc. “With Lantheus’ expertise in radiopharmaceutical diagnostics and ability to scale operations, I am confident that Lantheus is the ideal company to bring this late-stage biomarker through pivotal trials and into commercialization to one day benefit patients at risk of Alzheimer’s disease.”

Alzheimer’s disease is a degenerative neurological disorder that causes a decline in cognition and function. In the U.S., there are nearly 12 million people living with mild cognitive impairment or Alzheimer’s disease. As the population ages, it is likely that the prevalence of this disease will continue to rise and, by 2050, the number of people 65 and older with mild cognitive impairment and Alzheimer’s disease may grow to more than 20 million.²

Chestnut Partners, Inc. acted as exclusive financial advisor to Meilleur Technologies, Inc. in this transaction and Goodwin Procter LLP acted as legal advisor. Foley Hoag LLP acted as legal advisor to Lantheus in connection with the transaction.

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