Perspective Therapeutics Acquires CGMP-Compliant Manufacturing Facility

SEATTLE, March 05, 2024 (GLOBE NEWSWIRE) -- Perspective Therapeutics, Inc. (“Perspective” or “the Company”) (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatment applications for cancers throughout the body, today announced the consummation of the acquisition of a state-of-the-art manufacturing facility and associated equipment and systems for the production of its ²⁰³Pb- and ²¹²Pb-labeled radiopharmaceuticals.

Previously operated by Lantheus Holdings, Inc. (“Lantheus”) (NASDAQ: LNTH), the leading radiopharmaceutical-focused company, this 11,500 square foot facility, located in Somerset, New Jersey, has operated in compliance with both Part 212 and Part 211 of Title 21 of the Code of Federal Regulations (CFR) in the U.S., meeting Current Good Manufacturing Practice (cGMP) requirements. As a cGMP compliant facility, Perspective intends to utilize the facility to manufacture clinical supply of high quality ²⁰³Pb-labeled tumor-specific peptides to visualize and diagnose tumors, and ²¹²Pb-labeled radiopharmaceuticals to treat target tumors with targeted alpha therapies (TAT). Moreover, with its three cGMP suites at the facility, Perspective expects to have the capacity to meet future clinical trial and commercial demands at major cancer treatment centers throughout the Northeastern U.S.

The facility acquisition is part of a series of strategic agreements with Lantheus that Perspective announced on January 9, 2024, which included an initial equity investment in Perspective. In addition, on March 4, 2024, Perspective announced it had entered into an investment agreement to sell shares of the Company’s common stock to certain accredited institutional investors for gross proceeds of $87.4 million, $57.4 million of which will be purchased by Lantheus upon the consummation of the transaction.

“We look forward to welcoming the exceptional talent at this facility and integrating them into our team,” said Shane Cobb, Executive Vice President of Operations, Perspective Therapeutics. “The acquisition of this facility much earlier than initially planned is expected to allow us to move forward more quickly to deliver clinical and, if approved for commercialization, commercial doses. Given the 10.6-hour half-life for ²¹²Pb lead, it is important that we have the infrastructure and personnel to support production of our radiopharmaceuticals, all within the vicinity of the patients we hope to impact. This is a significant milestone for Perspective as we build upon the progress we have made in establishing clinical manufacturing.”