Lantheus to acquire Evergreen Theragnostics for $250M upfront

Lantheus (LNTH) announced a definitive agreement to acquire Evergreen Theragnostics in an all-cash transaction consisting of an upfront payment of $250M and up to an additional $752.5M in potential milestone payments. Evergreen is a clinical-stage radiopharmaceutical company engaged in Contract Development and Manufacturing services as well as drug discovery and commercialization of proprietary products. Under the terms of the agreement, Lantheus will pay an upfront amount of $250M, payable in cash at closing, and up to $752.5M in development and sales milestones related to Octevy and Evergreen’s clinical and pre-clinical pipeline. The transaction has been approved by the boards of directors of both companies and is expected to close in the second half of 2025, subject to customary closing conditions, including regulatory clearances.