Lantheus Buys Rights To Fibroblast Activation Protein Targeting Imaging Biomarker

Lantheus Holdings Inc LNTH has acquired the exclusive worldwide rights to develop, manufacture and commercialize NTI-1309, a PET oncology imaging agent from Noria Therapeutics Inc.
NTI-1309 targets fibroblast activation protein (FAP), a target with potential broad imaging applicability and targeting oncology implications.
FAP is overexpressed in the tumor microenvironment, specifically in tumor-associated fibroblasts, which modulates tumor progression and immune response.
Under terms of the agreement, Noria will drive the early clinical development of NTI-1309.
Upon completing the Phase 1 study, NTI-1309 will be integrated into Lantheus's portfolio of imaging biomarkers.
The transaction's terms include an upfront license and development fee to Noria, certain milestone payments, and royalties if NTI-1309 is commercialized.
Price Action: LNTH shares are up 10.1% at $21.69 in market trading hours on the last check Tuesday.