Lantheus, GE Healthcare Sign License Deal For Flurpiridaz F 18 - Quick Facts

(RTTNews) - Lantheus Holdings Inc. (LNTH) and GE Healthcare (GE) said they have signed a definitive license agreement for the continued Phase III development and worldwide commercialization of flurpiridaz F 18.

Flurpiridaz F 18 is an investigational positron emission tomography or PET myocardial perfusion imaging (MPI) agent that may improve the diagnosis of coronary artery disease, the most common form of heart disease. The definitive agreement follows the signing of a term sheet previously announced in late February 2017.

Under the definitive agreement, GE Healthcare will lead and fund the development program of flurpiridaz F18, including the second Phase III clinical study. GE Healthcare will also have exclusive worldwide rights for the commercialization of flurpiridaz F18.

Lantheus will collaborate in both the development and commercialization process through a joint steering committee. In addition, Lantheus maintains the option to co-promote the agent in the U.S.

Lantheus will receive a $5 million upfront cash payment and, if successful, up to $60 million in regulatory and sales milestones payments, plus double-digit royalties on U.S. sales and single-digit royalties on sales outside of the U.S.

Separately, the companies have also extended and expanded their current commercial agreement under which Lantheus will continue to supply GE Healthcare with TechneLite, Gallium-67, and Xenon-133 through December 31, 2020.