Brief: Lantheus And Point Biopharma Announce Strategic Collaboration And Exclusive License Agreements For The Commercialization Of Pnt2002 & Pnt2003

POINT Biopharma Global

14/11/2022 13:14

Nov 14 (Reuters) - Lantheus Holdings Inc  LNTH.O :
    * LANTHEUS AND POINT BIOPHARMA ANNOUNCE STRATEGIC
COLLABORATION
AND EXCLUSIVE LICENSE AGREEMENTS FOR THE COMMERCIALIZATION OF
PNT2002 & PNT2003
    * LANTHEUS - ON CONSUMMATION OF AGREEMENTS, FOR EXCLUSIVE
WORLDWIDE RIGHTS, CO TO PAY TOTAL OF $260 MILLION IN UPFRONT
PAYMENTS BETWEEN 2 AGREEMENTS TO POINT
    * LANTHEUS - AGREEMENT INCLUDES POTENTIAL FOR ADDITIONAL
MILESTONE
PAYMENTS OF ABOUT $1.8 BILLION BETWEEN 2 PRODUCTS ON U.S. FDA
APPROVAL, NET SALES, COMMERCIAL MILESTONES
    * LANTHEUS - TO PAY POINT ROYALTIES ON NET SALES, BEYOND
CERTAIN
FINANCIAL THRESHOLDS & SUBJECT TO CONDITIONS, OF 20% FOR PNT2002
& 15% FOR PNT2003
    * LANTHEUS HOLDINGS - EXPECTS AGREEMENTS TO BE ACCRETIVE TO
ADJUSTED EARNINGS PER SHARE (ADJUSTED EPS) SHORTLY FOLLOWING
COMMERCIALIZATION OF PNT2002
    * LANTHEUS HOLDINGS - POINT TO FUND, COMPLETE PHASE 3 SPLASH
TRIAL
FOR PNT2002, AFTER WHICH CO TO FILE NEW DRUG APPLICATION IN
COLLABORATION WITH POINT
    * LANTHEUS - ON COMPLETION OF AGREEMENTS, COS TO FORM JOINT
STEERING COMMITTEES TO OVERSEE CLINICAL STUDIES, REGULATORY
FILINGS, READINESS FOR PNT2002 & PNT2003
    * LANTHEUS HOLDINGS INC - POINT WILL DEVELOP COMMERCIAL
PRODUCTION
CAPACITY AND MANUFACTURE CLINICAL AND COMMERCIAL SUPPLY FOR BOTH
PNT2002 AND PNT2003
    * LANTHEUS HOLDINGS INC - LANTHEUS HAS RIGHTS TO
COMMERCIALIZE
BOTH ASSETS POST REGULATORY APPROVAL
    * LANTHEUS - TO FUND ALL-CASH LICENSE OF WORLDWIDE RIGHTS,
EXCLUDING CERTAIN TERRITORIES, FOR PNT2002 & PNT2003 WITH CASH
ON BALANCE SHEET, COMMITTED FINANCING

Source text for Eikon:  ID:nGNX6VrgzV 
Further company coverage:  LNTH.O 
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