Benzinga | Mar 30, 2021 12:45PM EDT

Lantheus Buys Rights To Fibroblast Activation Protein Targeting Imaging Biomarker

* Lantheus Holdings Inc (NASDAQ: 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.