SEATTLE - Perspective Therapeutics, Inc. (NYSE AMERICAN: CATX), a company specializing in radiopharmaceutical cancer treatments, announced today the acquisition of a manufacturing facility in Somerset, New Jersey, previously owned by Lantheus (NASDAQ:LNTH) Holdings, Inc. (NASDAQ: LNTH). The 11,500 square foot facility is compliant with U.S. cGMP requirements, which Perspective plans to use for producing tumor-specific peptides and radiopharmaceuticals for cancer treatment.
This acquisition, part of a strategic collaboration with Lantheus announced on January 9, 2024, includes an initial equity investment in Perspective. Additionally, Perspective disclosed an investment agreement on March 4, 2024, to sell shares of common stock to institutional investors, aiming to raise $87.4 million in gross proceeds, with Lantheus purchasing $57.4 million upon completion.
Shane Cobb, Perspective's Executive Vice President of Operations, expressed that acquiring the facility ahead of schedule will expedite the delivery of clinical and potentially commercial doses. The site's three cGMP suites are expected to cater to the demands of major Northeastern U.S. cancer treatment centers.
Thijs Spoor, CEO of Perspective, emphasized the facility's role in the company's commitment to bringing targeted alpha-particle therapies to patients in need. Brian Markison, CEO of Lantheus, also acknowledged Perspective's innovative approach and the facility's future contribution to manufacturing product candidates.
Perspective Therapeutics is developing treatments that combine alpha emitting isotopes with targeting peptides, a "theranostic" approach for visualizing and treating cancer. Their melanoma and neuroendocrine tumor programs are currently in Phase 1/2a trials.
The information in this article is based on a press release statement from Perspective Therapeutics.
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