Lantheus Holdings, Inc.the leading radiopharmaceutical-focused company dedicated to helping clinicians Find, Fight, and Follow disease to deliver better patient outcomes, today announced a definitive agreement to sell its single photon emission computed tomography (SPECT) business to Illuminated Holdings, Inc., the parent company of SHINE Technologies, LLC (collectively, “SHINE”). Under the terms of the agreement, SHINE will acquire Lantheus’ SPECT business, including its diagnostic agents (TechneLite^® (Technetium Tc 99m generator), NEUROLITE^® (Kit for the Preparation of Technetium Tc 99m Bicisate for Injection), Xenon Xe-133 Gas (Xenon Xe-133 Gas), and Cardiolite^® (Kit for the Preparation of Technetium Tc99m Sestamibi for Injection)), the portion of the North Billerica, Massachusetts campus that manufactures Lantheus’ SPECT products, and the SPECT-related Canadian operations.

The transaction allows Lantheus to focus on growing its commercial portfolio of innovative PET radiodiagnostics and microbubbles, while advancing its pipeline of radiopharmaceuticals. SHINE is a global leader in nuclear medicine production and, with its proven expertise in developing next-generation fusion and fusion-based technology and sustainable medical isotope supply chains, is the ideal partner to ensure the continuity and expansion of the SPECT business.

“This transaction enables Lantheus to concentrate our efforts on enhancing our radiopharmaceutical leadership focused on innovative diagnostics and therapeutics," said Brian Markison, CEO of Lantheus. “While the SPECT business has been a foundational part of Lantheus’ nearly 70-year history, we believe it is the right time for this business and its outstanding employees to continue driving success with SHINE, a company well-positioned to ensure its long-term growth and positive patient impact.”

Markison continued, “Today’s announcement builds on our strong momentum and agreements to acquire Life Molecular Imaging and Evergreen Theragnostics. These strategic actions will enable us to focus on growing our portfolio, advancing and expanding our pipeline, and enhancing our capabilities across the radiopharmaceutical value chain.”

"This acquisition builds on our longstanding partnership with Lantheus and we are confident the SPECT business and the talented team will significantly strengthen our platform," said Greg Piefer, CEO of SHINE. "We look forward to joining the operational strength of this business with our advanced isotope production capabilities to ensure continuity and growth of the SPECT business, a seamless transition for employees and a long-term reliable supply of essential radioisotopes.”

Under terms of the agreement, Lantheus will receive an upfront cash payment, a note convertible into SHINE preferred stock, and additional consideration, including potential earnout milestones. The transaction has been approved by the Boards of Directors of both companies and is expected to close by the end of the year, subject to customary closing conditions.