Eli Lilly Finalises $140M Partnership with Radionetics

Eli Lilly has entered into a $140 million partnership with Radionetics Oncology in an effort to get a competitive advantage in the rapidly expanding field of radiopharmaceuticals.

According to a news announcement dated July 1, along with the upfront payment, Eli Lilly has the sole opportunity to purchase the radiopharmaceutical specialist for $1 billion at the conclusion of the exercise window.

Ga-R8760 is the only candidate that Radionetics, who has garnered $82.5 million in venture capital, has in clinical studies. By 2024, the biotech company hopes to have three clinical trials up and running.

Radionetics CEO Paul Grayson stated: “We are fortunate to have entered into an agreement with Lilly given its global development capability, oncology expertise, and the radiopharmaceutical experience and capabilities Lilly is building following the acquisition of POINT Biopharma.”