Lilly inks potential $1.16B deal with radiopharma startup
AcquisitionPhase 3
Eli Lilly has partnered with Boston-based biotech Aktis Oncology to develop innovative anticancer radiopharmaceuticals using Aktis’ proprietary miniprotein discovery platform.
Under the agreement, Lilly will take charge of worldwide clinical development and commercialization of the radiopharmaceutical products from phase 1 onwards. In exchange, Aktis will receive a $60 million upfront payment and an equity investment from Lilly. Additionally, Aktis is eligible for up to $1.1 billion in potential milestone payments and tiered royalties on sales.
Eli Lilly made its foray into the radiopharma space late last year, when the drugmaker paid $1.4 billion to pick up POINT Biopharma. POINT, whose lead candidate is currently in phase 3 trials for metastatic castration-resistant prostate cancer, has its own 80,000-square-foot facility currently supplying doses for clinical trials and equipped to handle large commercial volumes.
With a market estimated to exceed $13 billion by 2030 and a space lit up with acquisitions, new company launches and clinical trials, therapeutic radiopharmaceuticals have gone mainstream. Earlier this month, Novartis announced it will acquire Massachusetts-based Mariana Oncology, in a deal that includes a portfolio of radiopharma programs from lead optimization to early development for solid tumors like breast, prostate, and lung cancer. Notably, MC-339, an actinium-based therapy for small cell lung cancer, is part of the acquisition.
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