--- title: "Lantheus completes Evergreen Theragnostics acquisition" url: "https://aibio.space/news/lantheus-completes-evergreen-theragnostics-acquisition-paying-about/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-04-01" section: "Mergers" tickers: "NASDAQ:LNTH" source: "https://www.sec.gov/Archives/edgar/data/1521036/000119312525069927/d905401d8k.htm" summary: "Lantheus said on April 1, 2025 that it completed its acquisition of Evergreen Theragnostics, paying about $275 million in cash at closing. That is a $250 m" --- By the aibio.space news desk. Sources - [Lantheus Holdings, Inc. Form 8-K filed April 1, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1521036/000119312525069927/d905401d8k.htm) - [Lantheus Holdings, Inc. exhibit d905401dex991.htm to the April 1, 2025 Form 8-K (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1521036/000119312525069927/d905401dex991.htm) - [Lantheus Holdings, Inc. Form 10-K filed February 26, 2025: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1521036/000162828025007970/lnth-20241231.htm) [LNTH](https://aibio.space/companies/lantheus/) 2025-04-01 # Lantheus completes Evergreen Theragnostics acquisition, paying about $275 million in cash Tickers [LNTH](https://aibio.space/companies/lantheus/) Lantheus said on April 1, 2025 that it completed its acquisition of Evergreen Theragnostics, paying about $275 million in cash at closing. That is a $250 million upfront payment plus a $25 million milestone, and up to $727.5 million in further milestone payments remain possible. ## Key facts - **Company**: Lantheus Holdings, Inc. (NASDAQ: LNTH) - **News type**: Mergers - **Primary source**: [Lantheus Holdings, Inc. Form 8-K filed April 1, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1521036/000119312525069927/d905401d8k.htm) *A conference room set for a meeting. CC0, via rawpixel. The picture shows the field, not the companies named.* Lantheus Holdings, Inc. (Nasdaq: [LNTH](https://aibio.space/companies/lantheus/)) said in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1521036/000119312525069927/d905401d8k.htm) filed April 1, 2025 that it completed its acquisition of Evergreen Theragnostics, Inc., a clinical-stage radiopharmaceutical company. The buyer was Lantheus Medical Imaging, Inc., a wholly owned subsidiary of Lantheus. Lantheus Medical paid approximately $275 million in cash at closing, subject to customary adjustments. The filing says the payment covers a $250 million upfront cash payment and a $25 million milestone achieved after the merger agreement date and before closing. Additional milestone payments of up to $727.5 million in cash remain potentially payable. They depend on milestone trigger events and the other terms of the agreement, and they are subject to certain adjustments. ## How the deal was structured The merger agreement is dated January 27, 2025. Project Hazel Merger Sub, Inc., a wholly owned subsidiary of Lantheus Medical, merged into Evergreen, which survived as a wholly owned subsidiary of Lantheus Medical. All issued Evergreen common stock, all outstanding and unexercised options and all unsettled restricted stock units were canceled in exchange for the merger consideration. The parties include Shareholder Representative Services LLC, a Colorado limited liability company, which acts for Evergreen's securityholders as representative, agent and attorney-in-fact. Lantheus is a party only for the purposes of Section 11.2 of the agreement. Both boards approved the deal, but not every director took part. Dr. Gerard Bér, who sits on both boards, and Heinz Mäusli, a Lantheus director who is also an advisor to Evergreen, were recused from board discussions at both companies. ## What Lantheus gets In a [press release](https://www.sec.gov/Archives/edgar/data/1521036/000119312525069927/d905401dex991.htm) furnished as Exhibit 99.1, Lantheus said the deal gives it OCTEVY, which it calls a registrational-stage PET diagnostic imaging agent targeting neuroendocrine tumors. The company says OCTEVY complements its therapeutic candidate PNT2003. Lantheus also acquires a portfolio of clinical and pre-clinical theranostic pairs, and Evergreen's radioligand therapy manufacturing infrastructure, including a revenue-generating contract development and manufacturing business. The acquisition was first announced on January 28, 2025. Evergreen is headquartered in Springfield, New Jersey, in a GMP radiopharmaceutical facility, and was founded in 2019. Lantheus Chief Executive Officer Brian Markison said the acquisition enhances the company's capabilities "from development to manufacturing to commercialization." ## What the filings leave out The 8-K and the release give no figures for Evergreen's revenue, losses or cash. The CDMO business is described as revenue-generating, but its size is not stated. The release calls OCTEVY registrational-stage, yet neither document reports trial results for it, or says when a filing might follow. Nor do the filings say how the $727.5 million in possible milestones is split among the trigger events. They also do not say when any of the milestones might be paid. ## Lantheus's own finances The company's [annual report on Form 10-K](https://www.sec.gov/Archives/edgar/data/1521036/000162828025007970/lnth-20241231.htm), reports revenues of $1,533,910 thousand for 2024, up from $1,296,429 thousand for 2023, and operating income of $456,979 thousand. Net income was $312,442 thousand for 2024, down from $326,661 thousand for 2023. Research and development expense was $168,098 thousand in 2024 against $77,707 thousand in 2023, and interest expense was $19,669 thousand. The company also recorded a net unrealized loss of $43,564 thousand on investments in equity securities. The annual report's forward-looking statements flag unforeseen integration expenses as a risk. The same forward-looking statements name Life Molecular Imaging Ltd. and Evergreen as potential acquisitions, with regulatory approvals and integration as open risks. ## Who signed Daniel Niedzwiecki, Chief Administrative Officer and General Counsel, signed the 8-K for Lantheus. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LNTH Lantheus Holdings, Inc. NASDAQ · United States Open the starter desk ## More in Mergers Mergers ### [InMed sets November 5 record date for CVRs tied to Mentari merger](https://aibio.space/news/inmed-sets-november-5-record-date-cvrs-tied-mentari-merger/) Oct 27, 2026 Mergers ### [Rallybio declares estimated $82.7 million cash distribution tied to Avenzo merger](https://aibio.space/news/rallybio-declares-estimated-82-7-million-cash-distribution-tied-avenzo/) Oct 26, 2026 Mergers ### [Skye Bioscience files preliminary proxy for its Redx Pharma acquisition](https://aibio.space/news/skye-bioscience-files-preliminary-proxy-redx-pharma-acquisition/) Oct 26, 2026 --- Source page: https://aibio.space/news/lantheus-completes-evergreen-theragnostics-acquisition-paying-about/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Lantheus completes Evergreen Theragnostics acquisition", 2025-04-01, https://aibio.space/news/lantheus-completes-evergreen-theragnostics-acquisition-paying-about/