Lantheus Holdings and GE Healthcare have signed a definitive licence agreement for the development and commercialisation of 'flurpiridaz F 18' for the enhanced diagnosis of coronary artery disease (CAD).

flurpiridaz F 18 is an investigational positron emission tomography (PET) myocardial perfusion imaging (MPI) and fluorine 18-labeled agent with the potential to bind to mitochondrial complex 1 (MC-1).

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The development programme will be led and funded by GE Healthcare, which will also hold the agent's exclusive commercialisation rights.

The scheme will also include a second Phase III clinical trial to evaluate flurpiridaz F 18.

Lantheus will contribute to the development and commercialisation via a joint steering committee and will maintain the option to co-promote the PET imaging agent in the US.

Lantheus president and CEO Mary Anne Heino said: “With our definitive agreement for flurpiridaz F 18 in place, we look forward to collaborating with GE Healthcare to complete the development and commercialisation efforts to bring this novel PET cardiac imaging agent to the market.

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"Through this strategic partnership with Lantheus, we are committed to strengthening and expanding our nuclear portfolio and potentially offering a new diagnostic option to clinicians and patients in CAD."

"On the nuclear medicine products contracting strategy front, we are excited to extend and expand our longstanding commercial relationship with GE through a multi-year supply agreement.”

Lantheus will receive an initial payment of $5m, followed by approximately $60m upon achieving regulatory and sales milestones.

GE Healthcare Core Imaging general manager Emmanuel Ligner said: “Through this strategic partnership with Lantheus, we are committed to strengthening and expanding our nuclear portfolio and potentially offering a new diagnostic option to clinicians and patients in CAD."

At the same time, the firm has also extended their existing commercial agreement, according to which Lantheus will continue supplying TechneLite, Gallium-67 and Xenon-133 Xenon Xe 133 Gas to GE Healthcare until 31 December 2020.