Radionetics Oncology Enters $140M Strategic Agreement With Lilly, Acquisition Option for $1B

Jul 1, 2024, 02:51 PM

Radionetics Oncology has entered into a strategic agreement with Eli Lilly and Company. As part of the deal, Radionetics will receive a $140 million upfront payment. In return, Lilly gains the exclusive right to acquire Radionetics for $1 billion. The agreement focuses on enhancing Lilly's cancer drug pipeline with radiopharmaceuticals developed by Radionetics. Lilly inks the deal with the biotech startup to expand its radiopharmaceutical offerings.