Lantheus acquires Cerveau and its imaging agent for Alzheimer’s

Lantheus (Nasdaq:LNTH) announced that it acquired Cerveau Technologies, a developer of a positron emission tomography imaging agent for detecting Alzheimer’s disease.

Cerveau develops the MK-6240 second-generation F 18-labeled PET imaging agent. It targets Tau tangles in Alzheimer’s disease.

Bedford, Massachusetts–based Lantheus intends to pay an upfront payment and potential development and commercial milestone payments. It also expects to pay double-digit royalty payments for research revenue and commercial sales.

Lantheus structured the deal as a stock purchase. The agreement specifies that, among other things, the seller will provide transition and clinical development services. These will be offered for a prescribed time following the closing of the transaction. Lantheus declined to disclose further terms of the deal.

“This exciting acquisition aligns with our growth strategy, further diversifying our radiopharmaceuti…

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Lantheus, Progenics complete merger

Lantheus Medical Imaging (NSDQ:LNTH) parent company Lantheus Holdings announced the completion of its merger with Progenics Pharmaceuticals.

Progenics, an oncology company developing medicines and artificial intelligence-based technologies for finding, fighting and following cancer, entered into a merger agreement with Lantheus that was first announced on Oct. 2, 2019.

Upon the completion of the merger, Progenics stockholders received 0.31 of one share of Lantheus common stock and one non-tradable contingent value right in exchange for one share of Progenics common stock, according to a news release.

The contingent value right is payable in two contingent payments, subject to a cap, upon the achievement of certain milestones related to the financial performance of PyLTM (18F-DCFPyL), Progenics’ prostate-specific membrane antigen targeted imaging agent designed to visualize prostate cancer.

Progenics, which previously traded on the Nasdaq market un…

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