Eli Lilly and Radionetics join hands with Novel Radiopharmaceuticals for Cancer

Radionetics Oncology, a biotech firm focused on creating innovative small molecule G protein-coupled receptor (GPCR) targeted radiopharmaceuticals for treating various solid tumors, has established a strategic partnership with Eli Lilly and Company. This collaboration will advance Radionetics’ unique GPCR-targeted small molecule radiopharmaceuticals.

As part of the agreement, Radionetics received an initial cash payment of $140 million. Lilly also gained the exclusive option to acquire Radionetics for $1 billion at the end of a designated period. During this time, Radionetics will continue to develop a portfolio of therapeutic assets, including small molecule radioligand treatments targeting GPCRs, using its proprietary discovery platform and related intellectual property.

Paul Grayson, CEO of Radionetics Oncology, expressed optimism about the partnership with Lilly, citing Lilly’s global development capabilities, oncology expertise, and expanding radiopharmaceutical experience, particularly following their acquisition of POINT Biopharma.

Jacob Van Naarden, Executive Vice President and President of Lilly Oncology, emphasized that the collaboration aligns with Lilly's commitment to radiopharmaceutical therapies by providing access to Radionetics' novel GPCR targets and discovery capabilities.

Brett Ewald, Chief Operating Officer of Radionetics, highlighted the company’s platform, which combines the potency of radiopharmaceuticals with the precision of small molecule targeting of novel GPCRs. He noted that their specialized team is dedicated to quickly advancing their promising programs to deliver these critical new therapies to patients.