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Radionetics Oncology Forms Strategic Relationship with Eli Lilly and Company

Jul 01, 2024•about 1 year ago

Contract Type

agreement

San DiegoPharmaceutical Manufacturing

Description

Radionetics Oncology has formed a strategic relationship with Eli Lilly and Company, under which Radionetics received a $140 million upfront cash payment, and Lilly obtained the exclusive right to acquire Radionetics upon conclusion of an exercise period for $1 billion. This relationship provides access to novel GPCR targets and the discovery capabilities of Radionetics Oncology.

Company Information

Company

Radionetics Oncology

Location

70 WILLOW STREET

San Diego, California, United States

About

Radionetics Oncology is a pharmaceutical company focused on the discovery and development of novel radiotherapeutics for the treatment of a wide range of oncology indications. The company’s platform technology uses nonpeptide, small molecule targeting to deliver therapeutic radioisotopes to a broad range of cancers by binding selectively to peptide receptors that are selectively expressed on these tumors. This nonpeptide technology addresses many of the significant challenges currently facing peptide and protein targeted radiotherapeutics, particularly in the realm of optimizing drug-like characteristics and manufacturing. The company is rapidly advancing a pipeline of drug candidates to treat a broad range of cancers and is conducting additional drug discovery efforts to identify drug candidates for additional receptor targets in collaboration with Crinetics Pharmaceuticals.

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