Eli Lilly is expanding further into radiopharmaceuticals, inking a deal with Radionetics Oncology that gives it an option to later acquire the San Diego biotechnology company for $1 billion. Lilly will pay Radionetics $140 million upfront for the option rights under the deal. Radionetics will continue to build its radiopharmaceutical drug pipeline through an “exercise period,” after which Lilly can choose whether to acquire the company. Radionetics is developing small molecule radiopharmaceuticals that can target G protein-coupled receptors, a ubiquitous family of proteins that present many attractive disease targets.
Read the full article: Eli Lilly Inks Another Radiopharma Deal, Gaining Option to Buy Startup //
Source: https://www.biopharmadive.com/news/eli-lilly-radionetics-radiopharmaceuticals-option-gpcr/720342/