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BusinessActive · 38h

Novartis licenses BoomRay radioligand therapy asset for $900M

Chinese biotech BoomRay and Novartis partner on a preclinical oncology asset as competition in radioligand therapies intensifies.

newest coverage 21h agosummary written 19h ago6 pieces Google NewsNewswires

What to know

  • Novartis licenses a preclinical radioligand therapy asset from China-based BoomRay for up to $900 million, including upfront payment and milestone-based royalties.
  • The deal underscores intensifying competition in radioligand therapies, an emerging precision oncology frontier, as Novartis continues to build its portfolio in the space.
  • The partnership leverages BoomRay's radioligand therapy expertise and radiochemistry capabilities with Novartis's global infrastructure and regulatory-stage development experience.

“Our agreement with BoomRay complements our growing radioligand therapy portfolio and reflects our strategy of combining external innovation with our cutting-edge research and development capabilities.”

Shiva Malek, Novartis oncology, biomedical research global head · Yahoo Finance ↗ · Sep 22

BoomRay Pharmaceuticals Clinical-stage biotech companyNovartis Global pharmaceutical companyBo Shan BoomRay CEOShiva Malek Novartis oncology, biomedical research global head

Novartis licenses BoomRay radioligand therapy asset for $900M
Yahoo Finance

How it unfolded 2 developments, newest first · click a bar or a number to jump articles

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    Deal details highlight Novartis's radioligand therapy expansion strategy

    The partnership combines BoomRay's development experience in radioligand therapies with Novartis's global oncology presence. Novartis noted the deal complements its growing radioligand therapy portfolio and reflects its strategy of combining external innovation with internal research capabilities, following its 2024 acquisition of Mariana Oncology for $1 billion upfront.

    “Radioligand therapies represent an important frontier in oncology, and at Novartis, we remain focused on driving breakthrough science that can expand their potential for patients.”
    — Shiva Malek
  2. 1

    Novartis and BoomRay sign $900M radioligand therapy license agreement

    China-based clinical-stage biotech company BoomRay Pharmaceuticals and Novartis announced an exclusive worldwide license deal for an undisclosed preclinical radioligand therapy asset. The agreement includes an upfront payment plus potential development, regulatory, and sales milestone payments, along with possible royalties on future global net sales.

    “This agreement marks a significant milestone for BoomRay and is a strong validation of our discovery and development capabilities.”
    — Bo Shan
    1. 4 outlets Novartis licenses BoomRay radioligand asset for $900M

      first by European Biotechnology Magazine, 1d ago · also AllSci, Pharmaceutical Executive, FirstWord Pharma

      3 more headlines

    2. 1 outlet first by Yahoo Finance, 21h ago · read ↗

    1 more claim →