Bright Future Today
  • Investing
  • Business
  • World News
  • Stock
Investing

Radiopharm Theranostics Completes A$70 Million Placement

by June 27, 2024
June 27, 2024

Radiopharm Theranostics Limited (ASX:RAD), a developer of a world-class platform of radiopharmaceutical products for both diagnostic and therapeutic uses, has received firm commitments to raise approximately A$70.0 million (before costs) by way of a placement (the Placement) comprised of international and Australian institutional and industry investors, including Lantheus Holdings (“Lantheus”) and specialist US healthcare investors.

Radiopharmaceutical industry leader, Lantheus Holdings, Inc., has agreed to make an initial strategic equity investment of A$7.5m at A$0.05 per share, which represents a 47% premium to last closing price of A$0.034 on 19 June 2024
Two Tranche Placement to raise an additional A$62.5m, taking total amount raised under the placement to A$70.0m
Offer price for shares issued under the balance of the placement of A$0.04 represents an 18% premium to the last closing price
Participation from leading international institutional investors including US specialist healthcare investors
Net proceeds are expected to fully fund the current clinical programs until the end of 2026
Executive Chair, Paul Hopper, to participate in the placement with A$3.0 million investment, subject to shareholder approval
Option for Lantheus to invest a further A$7.5m within 6 months on the same terms
Lantheus will also secure rights to two early preclinical assets in exchange for an A$3m upfront payment pursuant to a transfer and development agreement

As part of the Placement, as announced on 20 June 2024 and subject to shareholder approval, Lantheus has subscribed for:

a) A$7.5 million (US$4.99 million) at A$0.05 (US$0.033) per share;
b) unlisted options with a six-month term after the date the subscription shares are issued to invest up to an additional A$7.5 million (US$5 million) at A$0.05 (US$0.033) per share; and
c) one option for every four shares subscribed for (inclusive of any shares further subscribed for in the next six months), exercisable at A$0.06 per option expiring in August 2026, (together, “Lantheus Interests”).

Riccardo Canevari, Radiopharm’s Chief Executive Officer & Managing Director, said “We are delighted to complete this significant capital raise which will allow us to accelerate the development of our portfolio, as well as provide an expected cash runway to the end of 2026. To have attracted investment from Lantheus, one of the radiopharmaceutical industry’s leading companies, is a solid endorsement of RAD’s potential. We look forward to working closely with Lantheus in the coming years.”

As announced on 20 June 2024, and separate to the Placement, under a separate transfer and development agreement, RAD has agreed to assign and sub-license two of its preclinical assets to Lantheus for A$3.0 million (US$2.0 million). Assets covered under the agreement are a TROP2 targeting nanobody and a LRRC15 targeting mAb.

“We are pleased to make a strategic investment in RAD and partner with them to further expand our innovative pipeline,” said Brian Markison, Chief Executive Officer of Lantheus. “Radiopharmaceutical theranostics are changing the way cancer is diagnosed and treated, yet we still have more work to do and are inspired to further advance this field with these two preclinical oncology assets.”

An Extraordinary General Meeting (“EGM”) to approve the Lantheus Interests, second tranche component of the Placement (as described further below), and all options offered under the capital raising is anticipated to be held in early August 2024.

Bell Potter Securities Limited acted as lead manager to the capital raising and B. Riley Securities Inc acted as US placement agent. B. Riley Securities is acting as financial advisor to the Company on the Lantheus transactions.

Click here for the full ASX Release

This post appeared first on investingnews.com
previous post
How to Invest in Copper (Updated 2024)
next post
TAG, You’re It! Rotation Away From Semiconductors Benefiting These Stocks

You may also like

Triumph Gold: Multi-million-ounce, District-scale Gold Assets in the...

May 7, 2025

Joe Cavatoni: Gold’s Record Run No Surprise, Here’s...

May 7, 2025

Update – Blackstone Merger to Acquire Copper Gold...

May 7, 2025

5 Biggest Pharmaceutical ETFs in 2025

May 7, 2025

Copper Crunch: China’s Stockpiles Depleting, US Demand Rising

May 7, 2025

Jindalee Lithium Limited (ASX: JLL) – Trading Halt

July 4, 2024

First Diamond Drilling Results at Ricciardo Deliver High-Grade...

July 4, 2024

From EVs to Energy: Experts Explore Cleantech Investment...

July 4, 2024

Top 3 Canadian Biotech Stocks of 2024

July 4, 2024

Jindalee Lithium Limited (ASX: JLL) – Reinstatement to...

July 4, 2024

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Israeli military issues unprecedented evacuation warning for Yemen’s international airport

      May 7, 2025
    • India launches military operation against Pakistan, explosions heard

      May 7, 2025
    • Netanyahu chooses war – and his political survival – as Israelis demand hostage deal

      May 7, 2025
    • Israeli airstrike on central Gaza school compound housing displaced people kills 22, as military operation intensifies

      May 7, 2025
    • India and Pakistan are on the brink of all-out war. Here’s what we know

      May 7, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Copyright © 2025 brightfuturetoday.com | All Rights Reserved

    Bright Future Today
    • Investing
    • Business
    • World News
    • Stock