Lantheus and POINT Biopharma will form joint steering committees for two assets to oversee clinical studies and regulatory filings. Lantheus is paying $260 million upfront for a double bill of licenses for two of POINT Biopharma’s radiopharmaceutical oncology candidates, with another $1.8 billion tied up in biobucks. For both assets, the two companies will form joint steering committees to oversee the clinical studies and regulatory filings as well as ensure they are ready for manufacturing and to hit the market. If approved, LantheusLantheus has the rights to commercialize both therapies worldwide. Should the two assets secure FDA approval and then hit commercial milestones, POINT could be in line for up to $1.8 billion in biobucks plus royalties of 20% and 15% for PNT2002 and PNT2003, respectively. "This collaboration also immediately unlocks value for POINT, reduces the need for dilutive fundraising and enables us to focus on our pipeline of next-generation radioligands, which could be transformative for the field of precision oncology," McCann added.
Outside of the licensing deal, POINT will continue to develop its phase 1 pan-cancer FAP-α asset called PNT2004, as well as PNT2001, an actinium-225 next-generation PSMA program that the company expects to enter the clinic next year.