In a resounding vote of confidence in Radiopharm Theranostics (ASX: RAD), the US-based radiopharmaceutical heavyweight Lantheus Holdings has increased its shareholding to 12.16%, cementing its position as the largest investor in the Australian oncology-focused biotech. The $5 million USD (approximately $8 million AUD) placement was announced on 9 January 2025 and provides a substantial boost to Radiopharm’s clinical development pipeline.
A Premium Deal
The placement involves 133 million new shares issued at $0.060 per share, a striking 150% premium to Radiopharm’s last traded price of $0.024. Such a significant premium underscores Lantheus’ confidence in Radiopharm’s prospects despite its clinical-stage status and the inherent risks of the biotech sector.
CEO of Radiopharm, Riccardo Canevari, celebrated the deepened partnership, saying, “We are delighted to have Lantheus increase its shareholding in RAD. Their commitment strengthens our ability to bring innovative cancer treatments closer to patients.”
Echoing the optimism, Lantheus CEO Brian Markison remarked, “We are pleased to increase our holding in Radiopharm and look forward to jointly advancing radiopharmaceutical assets in Australia, a key market for innovation in this space.”
Lantheus: A NASDAQ-Listed Global Leader
With a legacy dating back to its founding as New England Nuclear Corporation in 1956, Lantheus Holdings (NASDAQ: LNTH) has evolved into a global leader in radiopharmaceutical solutions. The company boasts a workforce of over 600 employees and a strong presence in oncology and precision diagnostics.
Since its NASDAQ listing in June 2015, Lantheus has sharpened its focus on using radiopharmaceuticals to "Find, Fight, and Follow" diseases, delivering life-changing science to improve patient outcomes. Its decision to increase its investment in Radiopharm signals strategic alignment with the Australian firm’s innovative platform.
Lantheus Managing Director, CEO Brian Markison
Strategic Collaboration Deepens
This latest capital injection builds on a co-development partnership initiated in December 2024, where Radiopharm leads clinical trials in Australia with Lantheus covering the associated costs. This collaboration is centred on a Phase 1 imaging trial targeting solid tumours, with Radiopharm poised to receive up to $2 million USD in milestone payments for meeting objectives such as ethics approvals and patient enrolments.
Australia’s thriving clinical trial ecosystem and Radiopharm’s expertise make it an attractive partner for Lantheus. The partnership highlights the growing trend of international biotech companies leveraging Australian capabilities to fast-track development.
Fuel for the Pipeline
Radiopharm’s clinical-stage pipeline features highly differentiated radiopharmaceutical technologies, including peptides, small molecules, and monoclonal antibodies targeting cancers such as brain, lung, pancreas, and breast. With one Phase II and three Phase I trials underway, the company has prioritised first-to-market or best-in-class opportunities.
The $8 million AUD raised in the placement will be channelled into advancing these assets, which aim to address unmet needs in oncology, a field rife with demand for innovative solutions.
A Strategic Growth Opportunity
Radiopharm, listed on the ASX since November 2021, remains a relatively small player in the global biopharmaceutical industry. However, the growing stake from Lantheus—a global company with over six decades of experience—positions Radiopharm as a potential leader in the emerging radiopharmaceutical sector.
Paul Hopper, Radiopharm’s Executive Chairman, has consistently highlighted the company’s ambition to redefine cancer treatment. The financial and strategic support from Lantheus strengthens this ambition, setting the stage for rapid progress in both clinical trials and investor confidence.
What Lies Ahead?
As the collaboration matures, Radiopharm and Lantheus have the opportunity to deliver cutting-edge solutions that could reshape oncology treatments. With the increased stake, Lantheus is doubling down on its belief in Radiopharm’s ability to execute, while Radiopharm secures essential funding and a vote of confidence from a NASDAQ-listed global leader.
This alignment of expertise, capital, and shared vision positions the partnership as one to watch. Investors and the healthcare community alike will be keen to see whether this blend of Australian ingenuity and US market power can deliver innovative treatments that meet the world’s pressing oncology challenges.
