PharmaLogic buys majority stake in Agilera, adds radiopharma manufacturing capabilities

PharmaLogic Holdings, a contract development and manufacturing organization (CDMO) specializing in radiopharmaceuticals, is acquiring a majority stake in Norway-based Agilera Pharma AS.

The deal, expected to close in June 2025, will expand PharmaLogic’s manufacturing capabilities and international footprint in radiopharmaceutical therapeutics.

Agilera, a spinoff from the Institute for Energy Technology (IFE), has supplied more than 600,000 therapeutic doses to over 40 countries. The company operates across development, commercial manufacturing, and global distribution of radiopharmaceuticals, and is one of two CDMOs currently producing radiotherapeutics at commercial scale.

PharmaLogic said the acquisition will support efforts to meet growing demand by adding capacity and broadening its access to the European market. The company also plans to invest in Agilera’s operations and infrastructure following the close of the transaction.

Leadership from both Agilera and IFE said the deal will allow for faster growth and expanded distribution. Financial terms were not disclosed. Solomon Partners Securities, LLC served as financial advisor.

According to William Blair analysts, the radiopharmaceutical field remains hot, pointing to the approximately $900 million raised by private radiopharma companies — both drug developers and isotope producers — over the past nine months.

“We believe that over the next two years, the field will reach an inflection point as the therapeutics class emerges from a niche modality to become one of the centerpieces of the cancer treatment paradigm,” the analysts wrote last month in a note to investors.

In January 2025, Lantheus Holdings announced plans to acquire radiopharma CDMO and diagnostics company Evergreen Theragnostics in an all-cash deal valued at $250 million, with up to $752.5 million in potential milestone payments.

CDMOs with capabilities in handling radiopharmaceuticals are seeing strong demand, reflecting strength in these therapeutic modalities, according to CPHI’s 2024 annual report. “Barriers to entry here are extremely high and could lead to a supply/demand imbalance in the near term as more radiopharmaceuticals make their way into the clinical pipelines,” according to CPHI.