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CapVest Partners-backed Curium agreed to take radiopharma company Lantheus private for up to $8 billion, the companies said Monday.

Why it matters: The blockbuster potential of radiopharmaceuticals is drawing bigger bets.

Follow the money: Curium will pay roughly $102.50 per share upfront and an additional $12 per Lantheus share in contingent value rights.

Lantheus received an initial $7 billion takeover offer from Curium in the spring, Bloomberg reported in May.

Curium was valued at about $7 billion when CapVest raised a continuation vehicle for the business last year.

How it works: Lantheus' main product is a radioactive imaging agent used to determine whether prostate cancer has spread.

Curium makes radioactive tracers used in nuclear medicine to diagnose cancer and heart, bone and brain diseases.

The big picture: Radiopharma has long been viewed as operationally difficult — requiring isotopes that are in scarce supply, specialized facilities, and tightly timed production.

Yes, but: Novartis' Pluvicto moved into earlier treatment and posted fast-growing sales, showing radiopharma could support a blockbuster cancer franchise.

State of play: Recent deals include AstraZeneca's agreement to pay up to $2.4 billion for Fusion Pharmaceuticals in 2024.

Eli Lilly also agreed to buy Point Biopharma for $1.4 billion and Bristol Myers Squibb said it would buy RayzeBio for $4.1 billion in 2023.

PE-backed Curium to acquire radiopharma company Lantheus for up to $8B

The blockbuster potential of radiopharmaceuticals is drawing bigger bets.

Illustration of a spotlight shining on two people shaking hands.

CapVest Partners-backed Curium agreed to take radiopharma company Lantheus private for up to $8 billion, the companies said Monday.Why it matters: The blockbuster potential of radiopharmaceuticals is drawing bigger bets.

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PE-backed Curium to acquire radiopharma company Lantheus for up to $8B

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