Eli Lilly Amplifies Radiopharma Reach with $140M Radionetics Deal and $1B Buyout Option

Eli Lilly has entered into a $140 million partnership with Radionetics Oncology as part of its strategy to advance in the growing field of radiopharmaceuticals. Along with the initial payment, Eli Lilly has secured an exclusive option to acquire Radionetics for $1 billion after the exercise period ends, according to a press release dated July 1.

Radionetics, which emerged from Crinetics in 2021, specializes in developing small molecule G protein-coupled receptor (GPCR)-targeted drugs. During the exercise period, Radionetics will continue to develop its radioligand pipeline using its platform of small molecules linked to radioisotopes, aiming to create candidates that target receptors overexpressed in specific cancers.

With $82.5 million raised in venture financing, Radionetics currently has one candidate, Ga-R8760, in clinical trials. This radioligand is being tested in a Phase I trial (NCT05999292) for patients with adrenocortical carcinoma. The biotech also announced plans to have three clinical programs in progress by 2024.

This partnership represents Eli Lilly's latest move in the radiopharmaceutical space. In October 2023, the company acquired POINT Biopharma for $1.4 billion, gaining two late-stage clinical programs and a 180,000 square foot radiopharmaceutical manufacturing facility in the US.