Radiopharm Theranostics secured commitments to raise approximately $70 million through a strategic placement involving international and Australian institutional investors.
The placement includes an investment from Lantheus Holdings and specialist US healthcare investors.
Lantheus has committed an initial $7.5 million investment at 5 cents per share. Under similar terms, Lantheus can invest another $7.5 million within the next six months.
Radiopharm has transferred rights to two preclinical assets to Lantheus for $3 million in a separate agreement.
Proceeds from the placement will be used for drug manufacturing, clinical trials, general working capital, and the costs associated with the capital raising.