Novartis Acquires Mariana Oncology for $1B, Enhances Radiopharma Portfolio

Novartis has significantly expanded its presence in the radioligand therapy sector with a recent $1 billion acquisition, which includes control of Mariana Oncology’s preclinical cancer pipeline and clinical supply capabilities. This strategic move also involves up to $750 million in milestone payments. 

Mariana Oncology, a Massachusetts-based company, quickly established itself as a notable player in the radioligand field since its inception. Emerging with substantial funding, the company raised $75 million in 2021, followed by a $175 million Series B financing round in 2023. These investments have enabled Mariana to develop a promising pipeline, with MC-339 as its lead candidate. MC-339 is a peptidic small molecule engineered to deliver a radioactive actinium payload. This innovative approach aims to target small cell lung cancer cells specifically, minimizing damage to healthy tissues.

At the time of its Series B funding, Mariana intended to advance MC-339 into clinical trials by 2024. To facilitate this, the biotech firm has established radiopharmaceutical manufacturing capabilities, which Novartis cited as a key benefit of their acquisition. Radiopharmaceuticals present unique manufacturing challenges due to the short half-lives of radioisotopes and the limited number of facilities capable of producing and handling these molecules. Novartis has previously faced issues in this area, notably with its approved radioligand therapy Pluvicto. However, by April 2024, CEO Vas Narasimhan confirmed that the company had achieved an impressive supply performance level, with over 99.5% of injections administered as scheduled.

While Mariana is not yet equipped for commercial production, the company has invested significantly to support its clinical trials. Additionally, Mariana’s research infrastructure will complement and enhance Novartis’s existing capabilities, which have been bolstered through various acquisitions over recent years.

Novartis has been a pioneer in the radiopharmaceutical sector. In 2018, the company acquired Advanced Accelerator Applications and Endocyte for a combined $6 billion, adding Lutathera and what is now marketed as Pluvicto to its portfolio. Competitors such as AstraZeneca, Bristol Myers Squibb, and Eli Lilly have also entered the field, acquiring specialized biotechs for amounts ranging from $1.4 billion to $4.1 billion. Novartis continues to pursue new technologies, leading to recent deals with 3B Pharmaceuticals, Bicycle Therapeutics, and PeptiDream.

In addition to strengthening its radioligand capabilities, Novartis has been acquiring treatments that target cancer cells through various mechanisms. This year, the company acquired MorphoSys for 2.7 billion euros ($2.9 billion) and secured the rights to Arvinas’ Phase III-ready protein degrader for $150 million. These strategic moves underscore Novartis’s commitment to advancing its oncology pipeline and enhancing its therapeutic offerings.

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