Lantheus rallies after inking GE licensing agreement for Japan

Lantheus (LNTH) and GE HealthCare (GEHC) announced overnight an exclusive licensing agreement for GE HealthCare to develop, manufacture, and commercialize Lantheus’ Pylarify in Japan for prostate cancer diagnostics and companion diagnostic use. Pylarify is used for positron emission tomography imaging of prostate-specific membrane antigen positive lesions in men with prostate cancer. “The agreement includes the transfer of regulatory dossiers, manufacturing competencies and technical support to enable GE HealthCare to drive clinical development in Japan, towards potential regulatory submissions and commercial launch,” the companies said in a statement. Under the terms of the agreement, GE HealthCare will pay Lantheus an upfront license fee, development milestones and tiered royalties based on product sales in Japan. The companies will also establish a “joint steering committee” to oversee development and commercialization activities. Shares of Lantheus are up 2% to $53.21 in afternoon trading.