Eli Lilly & Co. (NYSE: LLY), a leading pharmaceutical company based in the US, has entered into a strategic partnership with fellow US firm Radionetics Oncology to gain access to Radionetics’ pipeline of innovative small molecule G protein coupled receptor (GPCR) targeted radiopharmaceuticals. Under the terms of the agreement, Lilly is making an initial payment of USD 140 million in cash and has secured the exclusive right to fully acquire Radionetics for a potential USD 1 billion at the end of an undisclosed exercise period.
Radionetics will continue to expand its pipeline of GPCR-targeted small molecules throughout the exercise period, with the company’s radioligand therapeutics anticipated to be beneficial in the treatment of various cancers, including but not limited to breast and lung cancer.
This strategic deal further solidifies Lilly’s presence in the radiopharmaceutical sector. Earlier this year, in January, the US pharmaceutical giant completed the acquisition of POINT Biopharma (NASDAQ: PNT), a US-based radioligand therapeutics developer, for USD 1.4 billion. This included the acquisition of PNT2002, a PSMA-targeted lead candidate currently under Phase III development for the treatment of prostate cancer.- Flcube.com
