Eli Lilly has entered a strategic partnership with Radionetics Oncology, establishing a path to potentially acquire the company and gaining access to its pipeline of cancer radiotherapeutics.

The deal involves an upfront payment of USD 140 million from Lilly and the exclusive right to acquire Radionetics for USD 1 billion. The collaboration provides Lilly access to Radionetics' expertise in targeting novel GPCR proteins for cancer treatment. It also enables the advancement of Radionetics' lead drug candidate, 68Ga-R8760, which targets the MC2R protein related to a rare form of cancer. 

Radionetics Oncology is a clinical-stage radiopharmaceutical company developing novel radiotherapeutics targeting various oncology indications. The company is advancing a pipeline of novel small-molecule radioligands targeting GPCRs for the treatment of a broad range of cancers, including adrenocortical carcinoma, breast cancer, and lung cancer. 

Analyst QuickTake: This partnership is part of Eli Lilly’s ongoing effort to expand its radiopharmaceutical portfolio. In October 2023, the company acquired Point Biopharma to gain access to its radiogland pipeline. Additionally, in May 2024, the company inked a deal with Aktis Oncology , gaining worldwide rights to certain radiopharma therapeutics discovered by Aktis using the biotech’s miniprotein technology platform.