GE Healthcare, Lantheus ink PET imaging agent development deal

GE Healthcare (NYSE:GE) and Lantheus Holdings(NSDQ:LNTH) said today they inked a definitive license agreement to continue the Phase III development and commercialization of the investigational flurpiridaz F 18 imaging agent. The imaging agent is designed as a positron emission tomography myocardial perfusion imaging agent that the companies say may improve the diagnosis of coronary artery disease. The deal follows the inking of a term sheet announced in February, the companies said. “We are committed to strengthening and expanding our nuclear portfolio through this strategic partnership with Lantheus and potentially offer a new diagnostic option to clinicians and patients in CAD. I’m thrilled to bring GE Healthcare’s proven track record of new product development and commercialization to this agreement as well as the quality and reliability that our customers expect globally,” GE Healthcare core imaging GM Emmanuel Ligner said in a prepared statement. Through the agreement, GE Healthcare will lead and fund the development program for the agent, including a 2nd Phase III clinical study. GE Healthcare will maintain exclusive worldwide rights for commercialization of the agent, while Lantheus will maintain the option to co-promote the agent in the US. Lantheus will receive $5 million up front as part of the deal, with an opportunity for up to $60 million in regulatory and milestone payments, as well as royalties inside and outside the US. “With our definit...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Imaging Research & Development GE Healthcare Lantheus Medical Imaging Source Type: news