BoomRay Pharmaceuticals Enters into $900M Deal with Novartis for Radioligand Therapy
China-based clinical-stage biotechnology company BoomRay Pharmaceuticals has entered a worldwide licensing agreement worth up to $900 million with Novartis Pharma. The deal involves an undisclosed preclinical radioligand therapy (RLT) asset and includes upfront payments, milestone incentives, and potential royalties on future sales. The partnership aims to combine BoomRay's expertise in RLT development with Novartis’s global oncology presence. Both companies emphasized the strategic importance of advancing precision cancer treatments through innovative therapies like radioligand therapy. This deal follows a broader trend by Novartis to strengthen its position in the field, including an earlier $1 billion acquisition of Mariana Oncology. BoomRay CEO Bo Shan highlighted that this agreement validates their development capabilities and accelerates patient access globally. Shiva Malek from Novartis noted how external innovation complements internal R&D efforts as part of a broader strategy to expand treatment options for oncology patients.
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Topics: Biotechnology Licensing Agreement Oncology Radioligand Therapy (RLT)