Lilly Signs $1.1B Radiopharma Deal with Aktis Oncology

Aktis Oncology has entered into a partnership with Eli Lilly to develop targeted anticancer radiopharmaceuticals. This strategic collaboration will see the Boston-based biotech company receive $60 million upfront, with the potential for an additional $1.1 billion in milestone payments and royalties from sales. Eli Lilly will gain global rights to certain radiopharmaceutical therapeutics and diagnostic products identified by Aktis Oncology using their miniprotein technology platform.

Aktis Oncology specializes in the use of alpha-emitting particles to precisely target cancer cells, aiming to reduce the side effects traditionally associated with cancer treatments. Their leading program focuses on urothelial and other Nectin-4-associated cancers. Jacob Van Naarden, president of Lilly Oncology, emphasized that the partnership enhances Lilly's capabilities in the radiopharmaceutical domain and offers access to a novel technology that could lead to significant advancements in cancer treatment.

In addition to the collaboration, Eli Lilly is also making an undisclosed equity investment in Aktis Oncology. This move is part of Lilly's broader strategy to expand its radiopharmaceutical portfolio. In October 2023, Lilly acquired Point Biopharma for $1.4 billion, marking the beginning of a significant investment in developing multiple radioligand treatments for challenging cancers. Point Biopharma's leading asset, PNT2002, is currently in a Phase III trial for patients with metastatic castration-resistant prostate cancer who have not responded to hormonal treatments.

The radiopharmaceutical sector has been attracting significant attention and investment from major pharmaceutical companies. Bristol Myers Squibb acquired RayzeBio for $4.1 billion at the end of 2023, while AstraZeneca bought Fusion Pharmaceuticals in March 2024 in a deal valued at approximately $2 billion. Both of the currently approved radiopharmaceutical products in the market, Pluvicto and Lutathera, originated from Novartis acquisitions. Pluvicto is used for metastatic castration-resistant prostate cancers, and Lutathera treats gastroenteropancreatic neuroendocrine tumors. Recently, Novartis announced a $1 billion acquisition of Mariana Oncology, following an expanded partnership with PeptiDream potentially worth over $2.7 billion.

This wave of acquisitions and collaborations underscores the growing importance and potential of radiopharmaceuticals in oncology. As pharmaceutical giants continue to invest heavily in this space, the development of innovative treatments targeting hard-to-treat cancers is expected to accelerate, offering new hope to patients battling these diseases.