Reported 12 months ago
Eli Lilly has secured an option to acquire Radionetics Oncology for $1 billion, with an initial payment of $140 million. Radionetics focuses on developing small molecule radiopharmaceuticals targeting G protein-coupled receptors for solid tumors. This move is part of Lilly's expansion into the radiopharmaceutical sector, following previous investments in the field such as acquiring Point Biopharma for $1.4 billion. The surge in pharma investment in radiopharmaceuticals has led to a build-out in biotech capacity.
Source: YAHOO