PharmaLogic Holdings Corp, an independent contract development and manufacturing organisation (CDMO) specialising in radiopharmaceuticals, announced on Monday a definitive agreement to acquire the CDMO business and Springfield, New Jersey manufacturing facility of Lantheus Holdings Inc (NASDAQ:LNTH).

Financial terms of the transaction were not disclosed.

According to PharmaLogic, the Springfield facility is a state-of-the-art radiopharmaceutical manufacturing site with a proven track record in theranostic manufacturing, research and clinical development. Its team will join Agilera, PharmaLogic's therapeutic CDMO franchise, upon completion of the transaction. The transaction also includes a long-term supply agreement, under which Agilera will manufacture lutetium Lu 177 dotatate for Lantheus.

Agilera brings more than 15 years of experience supporting the development and commercial launch of radioligand therapies (RLTs) and currently supplies an alpha therapy to more than 30 countries.

With the Springfield facility, PharmaLogic says that it becomes the first therapeutic CDMO to offer a transatlantic platform, giving partners an end-to-end solution for RLTs, from early clinical development, to commercial launch and global supply.

The transaction is subject to applicable regulatory review and the satisfaction of other customary closing conditions. The parties will continue to operate independently until the closing.