News Article

Curium, a leading producer of radiopharmaceuticals, and global investment firm CapVest Partners (CapVest) have announced the recapitalisation of Curium via a new Continuation Vehicle (CV) that values Curium at circa $7bn, making this the largest transaction in nuclear medicine globally.

The transaction elicited wide support from existing and new institutional investors across the US, Europe, the Middle East and APAC. This includes lead investors ICG, TPG GP Solutions, CVC Secondary Partners and other investors such as Goldman Sachs Alternatives, Lunate, Pantheon, and Ardian.

Candesic, with a team led by managing partner Dr Leonid Shapiro, is delighted to have advised CVC Secondary Partners on its investment.

Curium also secured a minority investment from TPG Life Sciences Innovations, TPG’s life sciences platform focused on innovative companies developing disruptive science to improve outcomes for patients in areas of high unmet medical needs.

Over the last decade, Curium has positioned itself as a global leader in nuclear medicine. Its vertically integrated, global supply chain delivers diagnostic and therapeutic radiopharmaceuticals to more than 14 million patients in over 70 countries across six continents every year. Curium holds a broad portfolio of diagnostic radiopharmaceuticals and has a late-stage pipeline of Radioligand Therapies targeting neuroendocrine and prostate cancers, the two largest indications in nuclear medicine.

The new CV broadens Curium’s investor base, increasing the financial resources available to support Curium in the next phase of its growth. Going forward, the company says it will continue to launch innovative, life-changing diagnostic and therapeutic solutions for cancer patients, whilst building its pipeline of “next-generation” radiopharmaceuticals through internal development and strategic acquisitions or partnerships.  

The completion of the transaction is expected in Q1 2026 and is subject to customary regulatory approvals. CapVest will remain the controlling shareholder of Curium.  

Renaud Dehareng, CEO of Curium, said “We are delighted to have successfully agreed this transaction with our partners at CapVest in record time. We are also proud to have received such strong investor interest, which endorses our unique positioning as the largest independent platform in nuclear medicine, with strong end-to-end capabilities across development, manufacturing, logistics and market access.”

Kate Briant, Senior Partner at CapVest, said: “We are proud to continue supporting Curium on what has been a phenomenal journey since 2016. We are grateful to our existing investors for their continued partnership and are also very pleased to welcome new investors into Curium, for what we believe will be a compelling investment opportunity. Building on our successes delivered to date, we are confident that Curium is exceptionally positioned to continue to play a major role in an industry that we expect to double in size over the next 5 years and then double again.”

PJT Partners acted as lead financial advisor on the transaction, with Kirkland & Ellis acting as lead legal advisor.