Novartis Expands Radiopharmaceutical Portfolio with $745M Deal with Ratio Therapeutics

Novartis has struck a licensing agreement with Boston-based biotech Ratio Therapeutics, securing global rights to a promising cancer candidate targeting somatostatin receptor 2 (SSTR2). The deal, announced on November 18, 2024, is valued at up to $745 million, including upfront and potential milestone payments, alongside royalties.

The partnership focuses on the joint research and selection of a development candidate using Ratio’s proprietary radioligand technology platforms. These platforms are engineered to create purpose-built radiopharmaceuticals tailored for both therapeutic and imaging applications. Once a candidate is chosen, Novartis will assume responsibility for further development, regulatory processes, and potential commercialization of the asset.

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By leveraging Ratio’s technologies, the companies aim to develop a best-in-class therapy to treat SSTR2-expressing tumors. Fiona Marshall, President of Biomedical Research at Novartis, said:

“Radioligand therapies hold transformative potential for certain forms of cancer, and Novartis is committed to maximizing their impact by continually improving the benefit for patients... We are delighted to collaborate with Ratio to advance this RLT candidate and work together to bring forward additional therapeutic options for patients with difficult-to-treat cancer.”

Topics: Startups & Deals