GRPR

Worldwide revenue of $391.1 million and $1.53 billion for the fourth quarter and full year 2024 Free cash flow was $141.4 million and $493.1 million for the fourth quarter and full year 2024 GAAP fully diluted loss per share of $(0.17) and earnings per share of $4.36 for the fourth quarter and full year 2024 Adjusted fully diluted earnings per share of $1.59 and $6.76 for the fourth quarter and full year 2024 PYLARIFY exceeds $1 billion in net sales and becomes first ever blockbuster radiodiagnostic Company announces a series of strategic asset and in-licensing deals that is expected to diversify its portfolio with early- to late-stage assets that position the company for continued growth in high potential markets Company provides full year 2025 revenue and adjusted diluted earnings per share guidance BEDFORD, Mass. , Feb. 26, 2025 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. ( Lantheus or the Company) (NASDAQ: LNTH), the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, today reported financial results for its fourth quarter and full year ended December 31, 2024 . “2024 was a groundbreaking year for Lantheus , as our radiodiagnostic, PYLARIFY, reached blockbuster status, and we enhanced our radiopharmaceutical leadership,” said Brian Markison , Chief Executive Officer at Lantheus . “In 2025, we will grow our commercial portfolio, advance several early- and late-stage clinical assets, expand our pipeline and end-to-end capabilities, and most importantly, provide innovative radiopharmaceutical solutions to deliver better patient outcomes. We will continue to execute a thoughtful strategy to diversify our portfolio and pipeline and concentrate on attractive markets with significant potential to create long-term sustainable growth and shareholder value.” Summary Financial Results Fourth Quarter 2024 Worldwide revenue increased 10.5% to $391.1 million compared to the same period in 2023. Sales of PYLARIFY were $266.0 million , an increase of 15.7%. Growth was driven by increasing volumes at existing accounts partially offset by net price. Sales of DEFINITY were $86.2 million , an increase of 17.9%. Growth was driven by market growth and opportunistic sales due to competitor supply challenges. Operating income decreased 17.2% to $113.9 million . Adjusted operating income (non-GAAP) decreased 8.4% to $151.8 million . Fully diluted earnings per share decreased to a loss of $(0.17) , compared to earnings per share of $1.47 in the prior year period. Adjusted fully diluted earnings per share (non-GAAP) decreased 9.0% to $1.59 , compared to $1.75 in the prior year period. Net cash provided by operating activities increased 40.5% to $157.7 million and free cash flow increased 41.1% to $141.4 million . Balance Sheet At December 31, 2024 , the Company's cash and cash equivalents grew to $912.8 million , compared to $713.7 million at December 31, 2023 , which accounts for approximately $100.0 million of repurchased stock and $50.0 million in previously announced strategic investments. The Company currently has access to up to $750 .0 million from a revolving line of credit. Strategy Lantheus is enhancing its radiopharmaceutical leadership and capabilities across research and development (R&D), clinical, global commercialization, and internal manufacturing through completed transactions, and others that are planned to close in 2025. The proposed acquisitions will diversify the Company's diagnostic and therapeutic portfolio and development pipeline with complementary assets aligned with Lantheus’ expertise. The Company is concentrating on innovative radiopharmaceutical solutions in new markets with high growth potential to deliver meaningful outcomes for patients, unlock the full potential of this increasingly important scientific field, and create long-term value for shareholders. Recent Business Highlights    Lantheus closed multiple strategic transactions and in-licensing deals in 2024, highlighted by the addition of five new assets to the Company’s pipeline. The acquisition of the global rights of Life Molecular Imaging’s (Life Molecular) RM2 , targeting the gastrin-releasing peptide receptor (GRPR), including the associated novel, clinical-stage radiotherapeutic and radiodiagnostic pair, referred to as 177Lu-DOTA-RM2 and 68Ga-DOTA-RM2, which enhanced Lantheus’ presence in prostate cancer and expanded its pipeline to include breast and other cancers. The acquisition of Meilleur Technologies, Inc. , including NAV-4694, a ß amyloid positron emission tomography (PET) imaging agent, also known as F18-flutafuranol, expanded Lantheus’ Alzheimer’s disease diagnostic pipeline. The transfer of two investigational pre-clinical assets from Radiopharm Theranostics Limited, LNTH-2403, a leucine-rich repeat-containing protein 15 (LRCC15) targeted radiotherapeutic, with potential applications in osteosarcoma and other solid tumors, and LNTH-2404, a trophoblast cell surface antigen 2 (TROP2) targeting nanobody radiotherapeutic, bolstering the Company’s early oncology portfolio. In 2025, the Company announced two strategic transactions, the agreements to acquire Life Molecular and Evergreen Theragnostics. Both acquisitions are expected to close in the second half of 2025, subject to customary closing conditions, including regulatory clearances. The acquisition of Life Molecular will provide Lantheus with a commercially available beta-amyloid targeted radiodiagnostic for Alzheimer’s disease, and with it a strong commercial footprint and infrastructure. This deal is complementary to Lantheus’ portfolio of late-stage radiodiagnostics, MK-6240, our novel tau radiodiagnostic, and NAV-4694, our next-generation beta-amyloid radiodiagnostic. This deal builds on the relationship established with an earlier agreement with Life Molecular to secure the global rights to their novel RM2 . The acquisition of Evergreen Theragnostics will enhance the Company’s position as an end-to-end fully integrated radiopharmaceutical leader, expanding manufacturing and R&D capabilities. The acquisition will also expand Lantheus’ increasingly diverse portfolio of radiotherapeutics and radiodiagnostics, including the registrational-stage PET radiodiagnostic, OCTEVY, that complements our therapeutic candidate PNT2003. Transactions include the transfer of two investigational pre-clinical assets from Radiopharm Theranostics Limited, featuring now-called LNTH-2403, a Leucine-Rich Repeat-Containing Protein 15 targeted radiotherapeutic, with potential applications in osteosarcoma and other solid tumors. The Centers for Medicare & Medicaid Services (CMS) released its final Medicare Hospital Outpatient Prospective Payment System (OPPS) rule for calendar year 2025 which included separate payment for specialized diagnostic radiopharmaceuticals to support patient access for Medicare fee-for-service (FFS) beneficiaries in the hospital outpatient setting. In the rule, innovative diagnostic radiopharmaceuticals, including PYLARIFY, will be paid separately by CMS for these Medicare FFS patients following the expiry of transitional pass-through payment status. The final rule, which went into effect January 1, 2025 , reinforces the value of innovative radiodiagnostics, not only for PYLARIFY but also investigational assets like MK-6240, NAV-4694, LMI’s Neuraceq and PI-2620, and Evergreen’s OCTEVY. The Company recently announced the addition of two new members to the Board of Directors. Julie Eastland , an experienced biotechnology and financial executive, serves as a member of the Board’s Audit Committee, and Phuong Khanh (P.K.) Morrow , M.D., an experienced pharmaceutical executive and physician-scientist with deep expertise leading end-to-end clinical development in the field of oncology, serves as a member of the Board’s Science and Technology Committee . The Company announced that its Board of Directors authorized and the Company began to execute a program to repurchase up to $250.0 million of its common stock. The actual timing, number, and dollar amount of repurchase transactions will be determined by the Company’s management at its discretion and will depend on a number of factors including, but not limited to, the market price of the Company’s common stock. During the fourth quarter, the Company repurchased approximately $100.0 million of common stock under this program at an average stock price of $89.59 and has the ability to repurchase additional shares of its common stock under the program. The acquisition of the global rights of Life Molecular Imaging’s (Life Molecular) RM2 , targeting the gastrin-releasing peptide receptor (GRPR), including the associated novel, clinical-stage radiotherapeutic and radiodiagnostic pair, referred to as 177Lu-DOTA-RM2 and 68Ga-DOTA-RM2, which enhanced Lantheus’ presence in prostate cancer and expanded its pipeline to include breast and other cancers. The acquisition of Meilleur Technologies, Inc. , including NAV-4694, a ß amyloid positron emission tomography (PET) imaging agent, also known as F18-flutafuranol, expanded Lantheus’ Alzheimer’s disease diagnostic pipeline. The transfer of two investigational pre-clinical assets from Radiopharm Theranostics Limited, LNTH-2403, a leucine-rich repeat-containing protein 15 (LRCC15) targeted radiotherapeutic, with potential applications in osteosarcoma and other solid tumors, and LNTH-2404, a trophoblast cell surface antigen 2 (TROP2) targeting nanobody radiotherapeutic, bolstering the Company’s early oncology portfolio. The acquisition of Life Molecular will provide Lantheus with a commercially available beta-amyloid targeted radiodiagnostic for Alzheimer’s disease, and with it a strong commercial footprint and infrastructure. This deal is complementary to Lantheus’ portfolio of late-stage radiodiagnostics, MK-6240, our novel tau radiodiagnostic, and NAV-4694, our next-generation beta-amyloid radiodiagnostic. This deal builds on the relationship established with an earlier agreement with Life Molecular to secure the global rights to their novel RM2 . The acquisition of Evergreen Theragnostics will enhance the Company’s position as an end-to-end fully integrated radiopharmaceutical leader, expanding manufacturing and R&D capabilities. The acquisition will also expand Lantheus’ increasingly diverse portfolio of radiotherapeutics and radiodiagnostics, including the registrational-stage PET radiodiagnostic, OCTEVY, that complements our therapeutic candidate PNT2003. Transactions include the transfer of two investigational pre-clinical assets from Radiopharm Theranostics Limited, featuring now-called LNTH-2403, a Leucine-Rich Repeat-Containing Protein 15 targeted radiotherapeutic, with potential applications in osteosarcoma and other solid tumors. Full Year 2025 Financial Guidance On a forward-looking basis, the Company does not provide GAAP income per common share guidance or a reconciliation of GAAP income per common share to adjusted fully diluted EPS because the Company is unable to predict with reasonable certainty business development and acquisition related expenses, purchase accounting fair value adjustments, and any one-time, non-recurring charges. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. As a result, it is the Company’s view that a quantitative reconciliation of adjusted fully diluted EPS on a forward-looking basis is not available without unreasonable effort.   Conference Call and Webcast As previously announced, the Company will host a conference call and webcast on Wednesday, February 26, 2025 , at 8:00 a.m. ET . To access the conference call or webcast, participants should register online at https://investor.lantheus.com/news-events/calendar-of-events. A replay will be available approximately two hours after completion of the webcast and will be archived on the same web page for at least 30 days. The conference call will include a discussion of non-GAAP financial measures. Reference is made to the most directly comparable GAAP financial measures, the reconciliation of the differences between the two financial measures, and the other information included in this press release, our Form 8-K filed with the SEC today, or otherwise available in the Investor Relations section of the Company's website located at www.lantheus.com. The conference call may include forward-looking statements. See the cautionary information about forward-looking statements in the safe-harbor section of this press release. About Lantheus Holdings, Inc. Lantheus is the leading radiopharmaceutical-focused company, delivering life-changing science to enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes. Headquartered in Massachusetts with offices in Canada and Sweden , Lantheus has been providing radiopharmaceutical solutions for more than 65 years. For more information, visit www.lantheus.com.  Internet Posting of Information The Company routinely posts information that may be important to investors in the “Investors” section of its website at www.lantheus.com. The Company encourages investors and potential investors to consult its website regularly for important information about the Company.  Non-GAAP Financial Measures The Company uses non-GAAP financial measures, such as adjusted net income and its line components; adjusted net income per share - diluted; adjusted operating income and free cash flow. The Company’s management believes that the presentation of these measures provides useful information to investors. These measures may assist investors in evaluating the Company’s operations, period over period. However, these measures may exclude items that may be highly variable, difficult to predict and of a size that could have a substantial impact on the Company’s reported results of operations for a particular period. Management uses these and other non-GAAP measures internally for evaluation of the performance of the business, including the allocation of resources and the evaluation of results relative to employee performance compensation targets. Investors should consider these non-GAAP measures only as a supplement to, not as a substitute for or as superior to, measures of financial performance prepared in accordance with GAAP.   Safe Harbor for Forward-Looking and Cautionary Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by their use of terms such as “advance,” “believes,” “continue,” “could,” “creating,” “driving,” “evolving,” “expect,” “guidance,” “maintain,” “may,” “on track,” “plan,” “position,” “potential,” “predict,” “should,” “target,” “will” and other similar terms. Such forward-looking statements include our guidance for the fiscal year 2025, our ability to repurchase additional shares of our common stock under our authorized repurchase program and our plans to expand our portfolio of late-stage assets and high potential early-stage candidates, our potential acquisitions of Life Molecular Imaging Ltd. (“Life Molecular”), and Evergreen Theragnostics Inc. (“Evergreen”), and are based upon current plans, estimates and expectations that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include: (i) continued market expansion and penetration for our established commercial products, particularly PYLARIFY and DEFINITY, in a competitive environment, and our ability to clinically and commercially differentiate our products; (ii) our ability to have third parties manufacture our products and our ability to manufacture DEFINITY in our in-house manufacturing facility, in the amounts and at the times needed; (iii) availability of raw materials, key components, and equipment, either used in the production of our products and product candidates, or in the use by HCPs of our products and product candidates, including, but not limited to PET scanners used for PYLARIFY, MK-6240 and NAV-4694; (iv) our ability to satisfy our obligations under our existing clinical development partnerships using MK-6240 or NAV-4694 as a research tool and under the license agreements through which we have rights to MK-6240 and NAV-4694, and to further develop and commercialize MK-6240 and NAV-4694 as approved products, including the timing for any potential regulatory submissions for these investigational assets; (v) our ability to successfully secure necessary shareholder and regulatory approvals relating to potential acquisitions, including of Life Molecular and Evergreen, the time and expense involved in seeking to secure those approvals, potential disruption to our business operations or those of the companies we plan to acquire while the acquisitions are pending or as a result of regulatory requirements related to the acquisitions; potential disruption to operations and productivity during the integration process after necessary approvals are secured and the potential that we are unable to integrate and realize the anticipated benefits that each acquisition is predicted to bring; (vi) our strategies, future prospects, and our projected growth, including revenue related to our collaboration agreements with POINT Biopharma Global Inc. , including our ability to obtain U.S. Food and Drug Administration (“FDA”) approval for PNT2002 and PNT2003 and to be successful in the patent litigation associated with PNT2003; (vii) our ability to successfully realize the anticipated benefits of our 2024 transactions with Perspective Therapeutics, Inc. ;(viii) the cost, efforts and timing for clinical development, regulatory approval, adequate coding, coverage and payment and successful commercialization of our product candidates and new clinical applications and territories for our products, in each case, that we or our strategic partners may undertake; (ix) our ability to identify opportunities to collaborate with strategic partners and to acquire or in-license additional diagnostic and therapeutic product opportunities in oncology, neurology and other strategic areas and continue to grow and advance our pipeline of products.; and (x) the risk and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in the Risk Factors section in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q). - Tables Follow - Contacts: Mark Kinarney Vice President, Investor Relations978-671-8842ir@lantheus.com Melissa Downs Senior Director, External Communications 646-975-2533media@lantheus.com Source: Lantheus Holdings, Inc.

In January 2025, several significant mergers and acquisitions (M&A) took place in the biopharmaceutical industry. These transactions not only reflect the strategic positioning of major companies in specific therapeutic areas but also demonstrate the industry's continued focus on innovative technologies and unmet medical needs. Lantheus Holdings, a leader in the field of radiopharmaceuticals, has significantly strengthened its market position and technological portfolio through a series of acquisitions. First, Lantheus completed the acquisition of Evergreen Theragnostics, bringing advanced manufacturing infrastructure and the PET drug Octevy, used for diagnosing neuroendocrine tumors, thereby further enriching its product line. Subsequently, Lantheus plans to acquire Life Molecular Imaging (LMI) for $350 million in an upfront payment, aiming to enhance its competitiveness in the Alzheimer's disease diagnostic market and expand its influence in oncology. At the same time, other major pharmaceutical companies are taking action to consolidate their leadership in key areas. Johnson & Johnson, Eli Lilly, and GlaxoSmithKline (GSK) have each strengthened their product portfolios in neuroscience, precision oncology, and gastrointestinal cancer treatment by acquiring Intra-Cellular Therapies, Scorpion Therapeutics, and IDRx, respectively. Additionally, the acquisition of Tavros Therapeutics by Vividion Therapeutics and the merger between Salarius Pharmaceuticals and Decoy Therapeutics reflect the industry's emphasis on cutting-edge technological platforms, particularly those offering differentiated advantages. Notably, the sale of Serina Therapeutics' subsidiary UniverXome Bioengineering to Juvenescence illustrates that, when facing financial challenges, asset restructuring and strategic partnerships can be essential strategies for companies. Although Biogen's non-binding acquisition proposal for Sage Therapeutics was ultimately rejected, it highlighted the importance of the existing collaboration between the two companies and the potential for deeper integration. 1.Lantheus Announces Completion of Acquisition of Evergreen Theragnostics On January 29, 2025, U.S. radiopharmaceutical company Lantheus announced the completion of its acquisition of Evergreen Theragnostics for a total transaction value of $1 billion, which includes an upfront payment of $250 million and potential additional installment payments of up to $752.5 million. This marks Lantheus' fifth acquisition since January 2024, aimed at enhancing its production capacity and technological capabilities in the radiopharmaceuticals sector. The acquisition enables Lantheus to gain Evergreen's radioligand therapy (RLT) manufacturing infrastructure, which supports both clinical trial needs and large-scale commercial production, reducing dependence on third-party manufacturing partners. The acquisition also includes Octevy, a PET diagnostic drug currently in the registration phase, used for detecting neuroendocrine tumors in both adult and pediatric patients. Lantheus noted that Octevy could serve as a complement to PNT2003 (lutetium Lu 177 edotreotide), a therapeutic drug developed by the company in collaboration with POINT Biopharma, which is currently undergoing Phase III trials for neuroendocrine tumors. This combination provides Lantheus with a more comprehensive product line in the neuroendocrine tumor treatment field, enhancing the company's competitiveness in this area. 2.Lantheus Holdings Announces Plan to Acquire Life Molecular Imaging (LMI) for $350 Million Upfront On January 17, 2025, Lantheus Holdings announced its plan to acquire Life Molecular Imaging (LMI) for an upfront payment of $350 million, with the potential for additional milestone and contingent payments of up to $400 million. This strategic acquisition aims to strengthen Lantheus' position in the Alzheimer's disease diagnostic market, particularly by acquiring LMI's key product, Neuraceq, a commercial diagnostic agent used to detect β-amyloid plaques in Alzheimer's patients. The transaction brings five significant assets to Lantheus, with Neuraceq, as a commercialized product, enabling the company to enter the Alzheimer's diagnostic market at least one year ahead of schedule. In addition, Lantheus will gain access to a diagnostic and therapeutic radiopharmaceutical combination targeting the gastrin-releasing peptide receptor, which is of particular relevance to breast and prostate cancers. These actions not only reinforce Lantheus' presence in the neurodegenerative disease diagnostic space but also complement the company's existing oncology product line, such as the prostate cancer diagnostic drug Pylarify. Through this acquisition, Lantheus further solidifies its leadership position in the radiopharmaceutical industry and injects new vitality into its diagnostic capabilities in Alzheimer's and other disease areas. This move reflects Lantheus' commitment to advancing medical imaging technologies and its dedication to developing more accurate and effective diagnostic tools, which is expected to have a positive impact on early detection and improving patient outcomes. 3.Serina Therapeutics Announces Sale of Subsidiary UniverXome Bioengineering to Juvenescence On January 16, 2025, Serina Therapeutics announced the sale of its subsidiary UniverXome Bioengineering to Juvenescence, a company focused on anti-aging, in order to repay a total debt of $11.2 million. This transaction is aimed at alleviating Serina's financial burden in the new year and refocusing its resources on its core business. UniverXome holds assets that were left over from the reverse merger with AgeX Therapeutics, a publicly traded company that has long faced financial difficulties. Before merging with Serina, AgeX Therapeutics had repeatedly warned that its funds were running out and had been seeking solutions, ultimately completing a merger plan with Serina in August 2023. While this merger provided a lifeline for AgeX, it also transferred the associated financial pressure to Serina. Notably, Juvenescence had previously provided tens of millions of dollars in loans to AgeX, indicating its interest in and support for AgeX and its technologies. This asset sale is not focused on specific drugs or therapeutic areas but revolves around addressing the complex financial relationships and asset restructuring between the companies. By selling UniverXome to Juvenescence, Serina not only reduces its debt burden but also allows Juvenescence to acquire certain valuable biotechnology technologies or intellectual property previously held by AgeX, although specific details were not disclosed in the announcement. This move reflects a broader trend in the biotechnology industry of addressing financial challenges through asset restructuring and strategic partnerships. 4.Johnson & Johnson Announces Acquisition of Intra-Cellular Therapies On January 13, 2025, Johnson & Johnson announced the acquisition of Intra-Cellular Therapies to strengthen its leadership in the neuroscience field. The core of this acquisition is CAPLYTA® (lumateperone), the first and only FDA-approved drug for the adjunctive and monotherapy treatment of bipolar I and II depression, as well as for the treatment of schizophrenia in adults. This acquisition not only enhances Johnson & Johnson's product line in neuroscience but also lays the foundation for sales growth over the next few years. As an important treatment option, CAPLYTA® has already been submitted for a supplemental new drug application (sNDA) to expand its use as an adjunctive treatment for major depressive disorder (MDD). If approved, CAPLYTA® is expected to become one of the standard treatments for most common types of depression, further expanding its market influence. Moreover, CAPLYTA®'s peak annual sales potential exceeds $5 billion, significantly boosting Johnson & Johnson's financial performance and helping the company exceed analysts' growth expectations. In addition to its current indications, CAPLYTA® has shown potential in clinical studies for generalized anxiety disorder, Alzheimer's-related psychosis, and agitation symptoms. These additional indications not only offer a broader market prospect for CAPLYTA® but also demonstrate Johnson & Johnson's commitment to developing treatments for a variety of neurological disorders. Through this strategic move, Johnson & Johnson is steadily reinforcing its leadership in the neuroscience sector. 5.Eli Lilly Announces Final Acquisition Agreement with Scorpion Therapeutics On January 13, 2025, Eli Lilly announced that it had reached a final agreement to acquire Scorpion Therapeutics and its development of the mutation-selective PI3Kα inhibitor project, STX-478. STX-478 is a once-daily oral medication currently in Phase 1/2 clinical trials, aimed at treating 30-40% of hormone-positive breast cancer patients, with the potential to become a best-in-class treatment option. This acquisition will enhance Eli Lilly's oncology portfolio and provide new momentum for its development in precision oncology. Under the terms of the agreement, Eli Lilly will pay up to $2.5 billion in cash to complete the acquisition of Scorpion, including upfront payments and subsequent payments based on achieving specific regulatory and sales milestones. Additionally, Scorpion will spin off a new entity that will hold assets related to its employees and non-PI3Kα projects, which will be owned by existing shareholders and led by Scorpion's current management team, focusing on the discovery and delivery of precision drug combinations. Through this transaction, Eli Lilly aims to leverage Scorpion's expertise and its own to accelerate the development of STX-478, improving treatment outcomes for patients with various solid tumors driven by PI3Kα mutations. STX-478, as a differentiated mutation-selective PI3Kα inhibitor, selectively targets the PI3Kα pathway in cancer cells rather than healthy cells, overcoming key limitations of existing drugs targeting this pathway. This characteristic makes STX-478 poised to provide deeper pathway inhibition and higher tolerance, offering hope for patients in need of effective and safe targeted therapies for the PI3Kα pathway. Eli Lilly hopes to make significant progress in the treatment of breast cancer and other advanced solid tumors through this acquisition. 6.GlaxoSmithKline (GSK) Announces Agreement to Acquire IDRx On January 13, 2025, GlaxoSmithKline (GSK) announced an agreement to acquire IDRx, a Boston-based clinical-stage biopharmaceutical company focused on developing precision therapies for gastrointestinal stromal tumors (GISTs). The core of this acquisition is IDRX-42, a highly selective KIT tyrosine kinase inhibitor (TKI) designed to treat GIST and target all key primary and secondary KIT mutations, addressing an unmet need in current treatments. GSK will pay up to $1.15 billion, including $1 billion in upfront payments and potentially an additional $150 million contingent upon successful regulatory approval. IDRX-42 is considered a best-in-class drug due to its broad coverage of KIT mutations in GIST patients and its potential to improve tolerance, overcoming the limitations of existing therapies in terms of recurrence and resistance. Preliminary clinical trials have shown promising antitumor activity and manageable safety in advanced GIST patients, particularly in those receiving second-line or later treatments, with an objective response rate of 29%. Through this acquisition, GSK not only strengthens its portfolio in the gastrointestinal cancer space but also reaffirms its commitment to addressing significant unmet medical needs. This acquisition reflects GSK's strategic goal of identifying and acquiring potential optimal molecules with targeted mechanisms of action to support the company’s long-term growth objectives through 2031 and beyond. The addition of IDRx brings advanced research and development capabilities, particularly in the area of developing efficient and selective targeted therapies. Additionally, IDRx’s other investors and supporters, including Andreessen Horowitz and Casdin Capital, further validate the company's technical expertise and market potential. This partnership is expected to further advance the development of treatments for GIST and other related cancers. 7.Bausch + Lomb Corporation's Subsidiary Completes Acquisition of Whitecap Biosciences, LLC On January 13, 2025, Bausch + Lomb Corporation announced that its subsidiary had completed the acquisition of Whitecap Biosciences, LLC to enhance its research and development capabilities in the ophthalmic treatment field. The acquisition focuses on two innovative therapies currently in development for glaucoma and geographic atrophy (GA), both significant causes of severe vision loss. Through this acquisition, Bausch + Lomb gains Whitecap Biosciences' efficient α-2 adrenergic agonist WB007, which has successfully completed Phase II clinical trials for the treatment of glaucoma, with plans for further clinical research targeting both glaucoma and GA. While the specific terms of the transaction were not disclosed, Bausch + Lomb has indicated that the acquisition will help address unmet medical needs and significantly improve current care standards, especially in slowing or even reversing vision loss caused by glaucoma. Whitecap Biosciences, since its founding in 2015, has focused on developing new therapies for severe eye diseases, including glaucoma and GA. Dr. Scott Whitcup, founder of Whitecap Biosciences, emphasized the importance of partnering with Bausch + Lomb, believing it will accelerate the development of these promising therapies and lead to better visual outcomes for patients. This strategic acquisition not only reflects Bausch + Lomb’s commitment to finding and providing advanced ophthalmic treatments but also strengthens its leadership position in the global eye care market. 8.Salarius Pharmaceuticals and Decoy Therapeutics Announce Definitive Merger Agreement On January 13, 2025, Salarius Pharmaceuticals, Inc. and Decoy Therapeutics, Inc. announced a definitive merger agreement, under which Decoy will merge with a wholly owned subsidiary of Salarius, and the combined company will be named Decoy Therapeutics. The merger aims to accelerate the clinical development of peptide-drug conjugates (PDCs) utilizing Decoy’s IMP3ACT™ platform, which integrates machine learning (ML) and artificial intelligence (AI) tools to design and manufacture innovative therapies, particularly targeting respiratory viruses and cancer. Decoy Therapeutics focuses on developing next-generation peptide-drug conjugates, with a product pipeline that includes therapies for respiratory infectious diseases and gastrointestinal oncology indications. Through this merger, Salarius’ oral small-molecule protein degrader SP-3164 will also be incorporated into highly targeted peptide-based proteolysis-targeting chimeras (PROTACs) candidates. Additionally, Salarius’ ongoing development of sellidemstat for hematologic cancer will continue to be supported, and its strategic alternatives will be evaluated. Although the specific transaction amount was not disclosed in the announcement, the merged company will be jointly led by senior executives from both companies, including Decoy’s CEO, Frederick “Rick” Pierce, and other core team members. Following the merger, the new company’s board will be composed of Rick Pierce, Barbara Hibner, and three independent directors, reflecting the spirit of collaboration and planning for future growth. David Arthur, President and CEO of Salarius Pharmaceuticals, emphasized that after a comprehensive strategic review, they believe the merger with Decoy Therapeutics represents the best opportunity to create significant value, not only based on the science behind Decoy’s peptide-drug conjugate technology but also due to its strong management team. This merger marks an important milestone for shareholders and presents new possibilities to address unmet needs across various therapeutic areas. 9.Biogen Announces Plan to Acquire All Outstanding Shares of Sage Therapeutics at $7.22 per Share On January 10, 2025, Biogen announced its intention to acquire all of the outstanding shares of Sage Therapeutics at a price of $7.22 per share. This offer represents a premium of approximately 30% over Sage’s closing stock price at the time, with a total estimated valuation of approximately $469 million. Upon receiving the proposal, the Sage board stated that it would carefully review and evaluate Biogen’s offer in consultation with its independent financial and legal advisors, in accordance with its fiduciary duties, to determine the course of action that is in the best interests of the company and all its shareholders. However, by January 27, 2025, the Sage Therapeutics board unanimously rejected Biogen’s non-binding acquisition proposal. Despite this, Sage’s stock price rose following the announcement, reflecting positive market sentiment toward the potential transaction. It is noteworthy that Sage and Biogen have an existing collaboration, jointly developing and marketing Zurzuvae for the treatment of postpartum depression (PPD)/major depressive disorder (MDD) and SAGE-324 for essential tremor. This acquisition proposal could be part of Biogen’s strategy to further consolidate its position in the central nervous system (CNS) disease space. However, Sage believes that Biogen’s offer undervalues the company and may seek to maintain its independence to better develop its business. Furthermore, Sage has attempted to block Biogen’s acquisition efforts through legal means, indicating its strong opposition to the acquisition. 10.Veralox Therapeutics Announces Exclusive Agreement with Nudge Therapeutics On January 9, 2025, clinical-stage biotechnology company Veralox Therapeutics announced an exclusive agreement with Nudge Therapeutics to acquire the latter and its preclinical series of cGAS (cyclic GMP-AMP synthase) inhibitors. This deal enables Veralox to leverage Nudge's novel small-molecule cGAS inhibitors, which are designed to prevent the overproduction of type I interferons associated with inflammation and autoimmune diseases, thus expanding its product portfolio. While the specific financial terms were not disclosed in the announcement, the agreement stipulates that Veralox will be responsible for continuing the development of Nudge's cGAS inhibitors, with a comprehensive acquisition of Nudge Therapeutics upon reaching specific downstream milestones. One of Veralox's main focuses is VLX-1005, a new therapy targeting the 12-lipoxygenase (12-LOX) pathway, which is expected to achieve clinical proof of concept (PoC) by 2025. This transaction is intended to bolster Veralox's research and development capabilities in treating severe autoimmune and inflammatory diseases. Robert Lowery, CEO of Nudge Therapeutics, emphasized the importance of Veralox's expertise in advancing the cGAS program, while Jonathan Mow, CEO of Veralox, noted that the potential applications of cGAS inhibitors span a range of inflammation-related diseases, including autoimmune, metabolic, cardiovascular, rare diseases, and neurodegenerative conditions, which align closely with Veralox's strategic goals. As such, this agreement not only expands Veralox’s product portfolio but also opens new possibilities for future drug development. 11.Vividion Therapeutics Announces Acquisition of Tavros Therapeutics On January 8, 2025, Vividion Therapeutics announced its acquisition of Tavros Therapeutics, aiming to significantly enhance its functional genomics capabilities and further advance its drug discovery platform. This acquisition will enable Vividion to utilize Tavros' proprietary genomic screening methods to identify new drug targets and support the discovery and translational efforts for known targets, particularly in oncology. Although the specific financial terms were not disclosed, this transaction will integrate Tavros' functional and computational genomics technologies into Vividion's platform, accelerating the development of novel therapeutic solutions. Vividion, a wholly owned subsidiary of Bayer, specializes in developing small-molecule therapies targeting high-value, hard-to-drug targets, and this acquisition further solidifies its position in precision oncology and immunology. Notably, Bayer completed the full acquisition of Vividion for approximately $2 billion in August 2021, highlighting the interest of large pharmaceutical companies in small biotech firms with innovative technologies and potential. The acquisition of Tavros represents a significant step in expanding Vividion’s R&D capabilities and technological assets, reinforcing the trend of driving research progress through mergers and acquisitions, and its firm commitment to advancing new drug development. 12.Predictive Oncology Inc. Announces Binding Letter of Intent with Renovaro, Inc. On January 6, 2025, Predictive Oncology Inc. announced that it has signed a binding letter of intent with Renovaro, Inc. to acquire Predictive Oncology by exchanging its shares for a newly created series of preferred stock issued by Renovaro. This transaction aims to combine the expertise of both companies in AI-driven drug discovery and multi-omics data processing to improve patient prognosis across various cancer indications while reducing operating costs by more than 30% in the short term. Under the terms of the agreement, Predictive Oncology’s shareholders will receive Renovaro’s newly issued preferred stock on a 1:1 basis. These preferred shares can be converted into freely tradable common stock of Renovaro or redeemed under certain conditions. Renovaro must raise at least $15 million, and the transaction is subject to the formal approval of Predictive Oncology’s shareholders. If shareholder approval is not obtained, Renovaro will receive a two-year exclusive royalty-free license to Predictive Oncology's biorepository and related technologies as compensation. This merger is expected to bring not only scientific synergies but also potentially enhance the combined company’s position in the capital markets and increase opportunities for business development. Both parties anticipate signing the final agreement no later than February 28, 2025, and the merged company will focus on accelerating drug discovery, reducing development risks, and providing more personalized treatment options for cancer patients. Summary January 2025 has been a transformative month for the biotechnology and pharmaceutical industries. Lantheus Holdings solidified its market position through two key acquisitions, strengthening its competitive edge in the treatment of neuroendocrine tumors, boosting its Alzheimer’s disease diagnostic market presence, and expanding its oncology product line. At the same time, other large pharmaceutical companies have actively participated in the M&A wave. Companies such as Johnson & Johnson, Eli Lilly, and GlaxoSmithKline (GSK) have expanded their product portfolios and technological capabilities through various acquisitions, such as J&J’s acquisition of Intra-Cellular Therapies and Eli Lilly’s investment in Scorpion Therapeutics. These moves significantly enhanced their strength in the fields of precision treatments for mental health and cancer. With advances in technology and changes in market demand, M&A will continue to be a key strategy for companies to acquire new technologies, enter new markets, and address competition. It is expected that AI and digital technologies will play an increasingly important role in drug development, driving innovation and growth in the industry. Meanwhile, the recovery of capital markets may provide support for the growth of more small and mid-sized biotech companies, promoting the diversification of the entire industry. In response to evolving healthcare needs, integration and collaboration within the industry will help accelerate new drug development and improve the quality of medical services, offering more hope to patients worldwide. In summary, the M&A activities in January 2025 highlight several key trends in the biopharmaceutical industry: First, enhancing core competitiveness and technological innovation through mergers and acquisitions; second, addressing unmet medical needs, particularly in neuroscience and oncology; and third, optimizing financial structures and improving business efficiency through restructuring and collaboration. These trends collectively drive industry progress and lay a solid foundation for future growth. How to get the latest progress on drug deals? If you would like to access the latest transaction event information, you can click on the 'Deal' module from the homepage of the Synapse database. Within the Deal module, you can search for global pharmaceutical transaction information using labels such as Drugs, Organization, Target, Drug Type, Deal Date.  Furthermore, you can obtain the original link to the transaction coverage by clicking on the "Deal Name." In the analysis view, you can see the most active assignors, assignees, popular targets, and other dimensions of analysis, as well as the distribution of research and development statuses at the time of the transaction, to help you better understand the search results. The Synapse database also supports the ability to view current transactions from the dimension of "drugs" (by selecting "drugs" from the "Adjust Dimension" dropdown menu above). Targeting transactions involving renowned pharmaceutical companies that are of interest to the industry, such as Merck, Roche, etc., Synapse has identified a group of "leading companies" through drugs that have achieved global sales exceeding 1 billion US dollars in 2022. Transactions involving drugs from these leading companies can be filtered by clicking on the "Leading Company" tag on the left-hand side. In addition to the drug transaction module, you can also view related transaction history on the drug detail page and the institution detail page. Click on the image below to explore new pharmaceutical funding transactions! 

Radiopharmaceutical maker Lantheus Holdings plans to acquire Life Molecular Imaging for $350 million in a bid to build up its commercial Alzheimer’s diagnostics business. In addition to the $350 million upfront payment, the deal includes up to $400 million in potential earnout and milestone payments. Six months ago, Lantheus made a deal with Life Molecular Imaging to license a diagnostic and therapeutics pair of radiopharmaceuticals, both of which target a protein called gastrin-releasing peptide receptor that’s highly expressed in breast and prostate cancer. Lantheus’ top-selling drug is a radioactive agent used to diagnose prostate cancer called Pylarify. Lantheus is gaining five assets from the buyout, namely a commercial Alzheimer’s diagnostic agent called Neuraceq. It’s an area that Lantheus has been investing in, though previous acquisitions were for experimental agents. In July, Lantheus bought Meilleur Technologies and its experimental beta amyloid PET imaging agent called NAV-4694. In 2023, Lantheus bought Cerveau Technologies for its experimental tau-targeted PET imaging agent known as MK-6240. “This puts us squarely in the Alzheimer’s space a whole lot earlier — at least a year earlier — than we were planning with the launch of [MK-6240], and we’ve got a ready-[to]-go franchise,” CEO Brian Markison said.