PharmaLogic to Acquire Majority Stake in Agilera, Strengthening Global Expertise in Radiopharmaceutical Therapeutics

BOCA RATON, Fla. and OSLO, Norway, April 9, 2025 /PRNewswire/ -- PharmaLogic Holdings Corp. ("PharmaLogic" or "the Company"), a leading contract development and manufacturing organization (CDMO) specializing in radiopharmaceuticals, today announces that it will acquire a majority stake in Agilera Pharma AS ("Agilera") from the Institute for Energy Technology (IFE) in Norway, marking a significant step forward in the company's strategy to create the first fully-integrated, global CDMO specializing in radiopharmaceutical therapies.

Agilera has been a trusted partner for major pharmaceutical companies for more than a decade, manufacturing commercial radiopharmaceutical therapies across the United States, Europe, and Asia. With more than 600,000 commercial therapeutic doses delivered to more than 40 countries, Agilera stands as a leader in the radiopharmaceutical CDMO space, further advancing PharmaLogic's commitment to innovation and excellence in the industry.

"PharmaLogic's acquisition of Agilera, one of only two CDMOs worldwide currently manufacturing radiopharmaceutical therapeutics, accelerates the expansion of our capabilities in this high-growth field," said Etienne Montagut, President of PharmaLogic. "By combining our expertise with Agilera's industry-leading scale and quality systems, we will be uniquely positioned to offer an end-to-end solution for manufacturing therapeutics at scale and ultimately improve global patient access to these essential treatments. We're thrilled to welcome Agilera's very talented team to PharmaLogic and to take the lead in expanding our presence in Europe."

Under the terms of the agreement, Agilera will complement PharmaLogic's existing manufacturing platform for therapeutics, enhancing the company's ability to deliver world-class radiopharmaceutical solutions. PharmaLogic is committed to investing in the expansion of Agilera's CDMO capabilities, strengthening its infrastructure, and scaling its manufacturing footprint to meet rising global demand for radiopharmaceutical therapeutics. This acquisition establishes PharmaLogic as the only CDMO with a global presence actively producing and distributing one of the main commercially-approved radiopharmaceutical therapies for major pharmaceutical companies.

From Nils Morten Huseby, CEO of IFE: "For IFE, the sale of a majority stake in Agilera marks a significant achievement as the largest commercialization effort carried out from the Institute to date. As a leading Research Institute, IFE is committed to innovation and job creation and has played a key role in the development and manufacturing of radiopharmaceutical therapeutics through Agilera. The entry of PharmaLogic as a new majority shareholder in Agilera will enable rapid scale-up, growth and development of Agilera's operations to meet the increased demand for radiopharmaceutical therapeutics globally."

"At Agilera, we highly welcome PharmaLogic as a majority shareholder in the company. Agilera's most important asset is the experience and expertise of our employees, as the company with the longest experience in large-scale production of radiotherapeutics globally. With PharmaLogic as a new owner beside IFE, this will enable further investments in the business to ensure that we have the right, available capacity to take on new customer projects and thus achieve faster adaptation to the promising market opportunities," said Erik Flatmark, CEO of Agilera. "An important step will be to strengthen European and transatlantic distribution of the products from both companies. We feel confident that we together will provide great opportunities for European, U.S., and global customers, with increased manufacturing capacity and capability in the market."

Deal Terms and Conditions
Closing of the transaction is subject to customary conditions, including regulatory approvals, license transfers and certain third-party consents. The acquisition is expected to close in June of 2025.

Advisors
Solomon Partners Securities, LLC served as financial advisor on the acquisition.

About PharmaLogic Holdings Corp.
PharmaLogic is a world-class contract development and manufacturing organization specializing in novel diagnostic imaging and therapeutic radiopharmaceuticals for the treatment of cancers and other malignancies. In addition to an established and reliable network of radiopharmacies, PharmaLogic has decades of expertise in drug development from discovery, through manufacturing and commercialization. The Company seeks to take the lead in the advancement of radiopharmaceutical technology for the benefit of patients worldwide. For more information, visit: radiopharmacy.com and follow us on LinkedIn.

About IFE
IFE was established in 1948 to conduct research on nuclear energy and has built and operated four experimental reactors at Kjeller and in Halden. IFE was a frontrunner and started with radiopharmaceutical activities as early as 1952 at the research reactor JEEP I at Kjeller. In the 1960s, IFE offered 28 individual radioactive isotopes for use in diagnostics and treatment and was particularly known for its labeling technology. During the 1980s and 90s, IFE exported its production technology to several countries. IFE was a key player in the introduction of PET technology in Norway, which has been of great importance for the diagnosis of cancer. Over the past 10 years, IFE has developed the radiopharmaceutical activities to become a successful contract development and manufacturing organization with a global footprint. In 2023, IFE spun off the radiopharmaceutical business into a newly created subsidiary, Agilera Pharma AS.

About Agilera Pharma AS
Agilera Pharma AS was established as a subsidiary of IFE in 2023 with 140 employees as part of their organization. Agilera has three business areas:

1. CDMO: Development partner for innovative radiopharmaceuticals from early phase to clinical production, tailored to customer needs.
2. CMO: Commercial production and distribution. Permits from the Norwegian Medicines Agency and GMP certified.
3. Wholesaler and distribution: Agilera is the national wholesaler of radiopharmaceuticals in Norway. Agilera has a central pharmacy function for radiopharmaceuticals and a logistics centre that distributes radiopharmaceuticals throughout Norway and globally.

SOURCE PharmaLogic Holdings Corp