Lantheus to Acquire Evergreen Theragnostics

• Lantheus Holdings, Inc. will acquire Evergreen Theragnostics, Inc. in an all-cash transaction, including $250 million upfront and milestone payments of $752.5 million.

• The acquisition will enhance Lantheus’ radiopharmaceutical manufacturing capabilities and expand its oncology diagnostic and theranostic pipeline.

Lantheus Holdings, Inc., a radiopharmaceutical company, has announced an agreement to acquire Evergreen Theragnostics, Inc., this includes a $250 million upfront payment and milestone-based payouts of $752.5 million. The transaction is expected to close in the second half of 2025, pending regulatory approvals.

The acquisition will position Lantheus as a fully integrated radiopharmaceutical company by adding Evergreen’s scalable manufacturing infrastructure and contract development and manufacturing (CDMO) services. Evergreen’s facilities are capable of handling diverse diagnostic and therapeutic isotopes, which will strengthen Lantheus’ capacity for clinical trials, commercial launches, and long-term growth.

Evergreen’s portfolio includes OCTEVY, a registrational-stage PET imaging agent for neuroendocrine tumors (NETs), which complements Lantheus’ therapeutic candidate PNT2003. OCTEVY, subject to FDA approval, is intended for somatostatin receptor-positive NET localization. The acquisition also brings Evergreen’s early-stage oncology assets and expertise in radiopharmaceutical theranostics, advancing Lantheus’ drug discovery efforts.

Brian Markison, CEO of Lantheus, stated, “With Evergreen’s manufacturing and development capabilities, we become fully integrated and will ultimately make a difference in the lives of more patients. We are pleased to welcome Evergreen’s talented team to Lantheus.”

James Cook, CEO of Evergreen, added, “Lantheus’ industry expertise and financial strength will help us bring our innovations to a broad patient population faster. We look forward to benefiting from Lantheus’ experience and resources to further advance our pipeline and continue developing cutting-edge therapies and diagnostics that have the potential to transform patient care. I am very pleased to have our Evergreen team join another industry-leading company with a shared vision.”