Radionetics Oncology, a three-year-old start-up that has raised $82.5m to date, landed a sweet deal with Eli Lilly and Company, with the big pharma paying $140m up front for an exclusive right to buy the developer of small molecule G protein coupled receptor (GPCR)-targeted radiopharmaceuticals for $1bn at the end of an undisclosed exercise period.
Lilly Adds To Radiopharma Arsenal With Option To Buy Radionetics
Third Deal In The Space Since POINT Purchase
Lilly paid $140m up front for an option to acquire Radionetics for $1bn within an undisclosed timeframe. The private firm is developing small molecule GPCR-targeted radiopharmaceuticals.
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