Radiopharm Theranostics Secures Up To A$18 Mln Investment From Lantheus

(RTTNews) - Radiopharm Theranostics Limited (RAD.AX) announced it received a strategic investment from Lantheus Holdings Inc. (LNTH) totaling up to A$18 million.

Lantheus has agreed to make an initial equity investment of A$7.5 million or US$4.99 million and will have an option to invest a further A$7.5 million or US$5 million within 6 months on the same terms.

Additionally, Radiopharm has agreed to transfer two of its early preclinical assets to Lantheus for A$3.0 million or US$2.0 million pursuant to a separate transfer and development agreement.

Radiopharm said it will use the net proceeds of Lantheus' investment for drug manufacturing, clinical trials and general working capital.