Radionetics Oncology Enters Strategic Agreement With Lilly; Receives $140M Upfront Payment; Lilly Gains Exclusive Right To Acquire Radionetics For $1B; Partnership Focuses On Developing GPCR Targeting Radiopharmaceuticals For Solid Tumors Using Radionetics' Proprietary Discovery Platform
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Radionetics Oncology has entered a strategic agreement with Eli Lilly, receiving a $140 million upfront payment. Eli Lilly gains the exclusive right to acquire Radionetics for $1 billion. The partnership will focus on developing GPCR targeting radiopharmaceuticals for solid tumors using Radionetics' proprietary discovery platform.
July 01, 2024 | 2:04 pm
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Eli Lilly has entered a strategic agreement with Radionetics Oncology, involving a $140 million upfront payment and an exclusive right to acquire Radionetics for $1 billion. This partnership aims to develop GPCR targeting radiopharmaceuticals for solid tumors.
The strategic agreement and potential acquisition position Eli Lilly to expand its oncology portfolio, particularly in the promising field of GPCR targeting radiopharmaceuticals. The upfront payment and exclusive acquisition rights indicate a significant commitment, likely boosting investor confidence in Lilly's growth prospects.
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