Novartis has obtained exclusive worldwide rights to an undisclosed, preclinical radioligand-therapy asset from Suzhou, China-based BoomRay Pharmaceuticals.
The agreement could be worth up to $900 million, comprising an undisclosed upfront payment plus development, regulatory and sales milestones. BoomRay is also eligible for royalties on future global net sales.
Neither the therapy’s biological target, radioisotope nor intended cancer indication was disclosed, underscoring that the program remains early stage.
The move reinforces Novartis’s effort to defend and expand its radioligand-therapy leadership, built around marketed products Pluvicto for prostate cancer and Lutathera for neuroendocrine tumors.
The competitive backdrop is intensifying:
Telix Pharmaceuticals has announced plans to acquire ITM Isotope Technologies, a supplier of lutetium-177 used in Pluvicto and developer of the radioligand candidate ITM-11. The transaction highlights the growing strategic value of both radiopharma pipelines and isotope supply chains.
This is part of a broader Novartis radioligand push. In 2024, it agreed to acquire Mariana Oncology for $1 billion upfront plus up to $750 million in milestones, adding several preclinical programs.
Sources:
Novartis secures new radioligand in $900M deal
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Novartis Licenses Radioligand Therapy from Chinese Firm for $900M
Novartis locks in preclinical RLT under $900M Boomray deal
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