We served as lead counsel to POINT Biopharma Global Inc. (NASDAQ: PNT), a biotechnology company that develops next-generation radioligand therapies for the treatment of cancer, in the negotiation of strategic collaboration and exclusive license agreements with Lantheus Holdings Inc. (NASDAQ: LNTH) for the commercialization of POINT’s PNT2002 & PNT2003 radiopharmaceutical candidates. Under the licensing deal, Lantheus will pay $260 million in upfront payments for the exclusive worldwide rights to two of POINT Biopharma’s product candidates, with the potential for additional milestone payments of up to $1.8 billion if the experimental drugs meet regulatory and sales milestones. Under the strategic collaboration and license agreements, the companies will form joint steering committees to oversee the clinical studies, regulatory filings, manufacturing and commercial readiness for both PNT2002 and PNT2003. POINT will develop commercial production capacity and manufacture clinical and commercial supply for both PNT2002 and PNT2003. Lantheus has the rights to commercialize both assets post regulatory approval.
The transaction was highlighted by several media outlets including:
- “POINT well made: Lantheus promises up to $2B for 2 of the biotech’s cancer radiopharmaceutical therapies,” Fierce Biotech (November 14, 2022)
- “POINT and Lantheus agree licensing deal for novel radiopharmaceuticals,” The Pharma Letter (November 14, 2022)
- “POINT Biopharma Reports Third Quarter 2022 Financial Results and Announces Strategic Collaboration and Exclusive License Agreements with Lantheus Holdings” Yahoo Finance (November 14, 2022)