Curium and Lantheus have announced a definitive agreement to combine their businesses in a deal valued at up to approximately $8 billion, creating one of the world’s largest radiopharmaceutical companies focused on both cancer diagnostics and targeted therapies.
Under the agreement, Curium US Holdings LLC will acquire all outstanding shares of Lantheus Holdings, Inc. for $102.50 per share in cash at closing. Shareholders will also receive non-transferable Contingent Value Rights (CVRs) that could provide up to $12.00 per share in additional cash payments if certain commercial milestones are achieved by 2030. The total potential consideration amounts to $114.50 per share.
The transaction has been unanimously approved by Lantheus’ Board of Directors and offers shareholders an immediate cash payment while providing the opportunity for additional returns tied to the future commercial performance of key Lantheus products. The offer represents a significant premium compared with the company’s historical share price before reports of a potential sale emerged in May 2026.
The merger will combine Curium’s global manufacturing capabilities and expanding radioligand therapy pipeline with Lantheus’ established commercial presence in the United States. The combined company is expected to deliver diagnostic and therapeutic nuclear medicine products to patients in more than 70 countries, strengthening its position across the full radiopharmaceutical value chain.
Curium Chief Executive Officer Renaud Dehareng said the acquisition marks a major step in the company’s long-term strategy to expand its theranostics platform. He noted that Lantheus brings complementary strengths, including a strong U.S. commercial organization, a prostate cancer diagnostic franchise based on fluorine-18 technology, and established products in neurology and cardiovascular imaging.
According to Dehareng, combining the two businesses will enable the company to offer a broader range of nuclear medicine solutions, from SPECT and PET imaging to targeted radioligand therapies, while expanding access for patients and clinicians worldwide.
Lantheus Executive Chair and Chief Executive Officer Mary Anne Heino described the transaction as a milestone for the company, saying it reflects the value created through more than seven decades of innovation in radiopharmaceuticals.
She said the merger brings together two industry pioneers with complementary expertise and a shared commitment to advancing nuclear medicine. Heino added that the combination is expected to accelerate the availability of innovative diagnostic and therapeutic products while delivering long-term value for shareholders, employees and patients.
Curium was established in 2017 by investment firm CapVest Partners LLP, which remains its controlling shareholder. The company has rapidly expanded its presence in the radiopharmaceutical sector through investments in manufacturing infrastructure and the development of targeted radionuclide therapies.
Kate Briant, Senior Partner at CapVest and Chair of Curium’s Board, said the acquisition demonstrates continued confidence in the future growth of nuclear medicine. She said the combined organization will be well positioned to capitalize on increasing demand for precision diagnostics and targeted cancer treatments while expanding access to life-changing healthcare solutions worldwide.
Both companies bring established product portfolios to the transaction. Curium has built expertise in developing, manufacturing and supplying diagnostic and therapeutic radiopharmaceuticals globally, supported by a growing theranostics pipeline.
Lantheus, meanwhile, has spent more than 70 years building its radiopharmaceutical business in the United States. Its portfolio includes PYLARIFY, which helped establish PSMA PET imaging as a standard approach for prostate cancer diagnosis, DEFINITY, a leading cardiac ultrasound enhancing agent, and Neuraceq, a rapidly growing PET imaging agent used to detect beta-amyloid plaques associated with Alzheimer’s disease.
Following completion of the acquisition, the combined company will operate across the entire nuclear medicine ecosystem, covering isotope production, manufacturing, diagnostic imaging and targeted radioligand therapy. The companies believe this integrated approach will strengthen innovation, expand commercial reach and improve patient access to advanced nuclear medicine technologies.
Lantheus said its board conducted a comprehensive review of strategic alternatives, including discussions with multiple parties and evaluating the option of remaining independent. After completing that review, directors unanimously concluded that the Curium transaction offered the strongest opportunity to maximize value for shareholders while supporting the company’s long-term mission to advance radiopharmaceutical care worldwide.