Switzerland $212 Billion Pharmaceutical Giant Novartis Buys United States Preclinical-Stage Biotechnology Firm Mariana Oncology for $1.75 Billion with $1 Billion in Upfront Payment & $750 Million Upon Completion of Specified Milestones
3rd May 2024 | Hong Kong
Switzerland $212 billion (Market value 3/5/24) pharmaceutical giant Novartis has announced to buy United States preclinical-stage biotechnology firm Mariana Oncology for $1.75 billion with $1 billion in upfront payment and $750 million upon completion of specified milestones. Announcement (2/5/24): “Novartis today announced that it has entered into an agreement to acquire Mariana Oncology, a preclinical-stage biotechnology company based in Watertown, Massachusetts focused on developing novel radiolig and therapies (RLTs) to treat cancers with high unmet patient need. The transaction bolsters the Novartis RLT pipeline and expands the company’s research infrastructure and clinical supply capabilities, supporting Novartis strategic priorities in oncology and RLT platform innovation. The acquisition encompasses a robust portfolio of RLT programs spanning lead optimization to early development across a range of solid tumor indications such as breast, prostate and lung cancer – including development candidate MC-339, an actinium-based RLT being investigated in small cell lung cancer. RLTs, or radiopharmaceuticals, are a form of precision medicine that combines a tumor-targeting molecule (ligand) with a therapeutic radioisotope (a radioactive particle). RLTs bind to specific receptors expressed on the surface of certain types of tumors. Once bound to a target cell, emissions from the therapeutic radioisotope cause DNA damage that can inhibit cell growth and replication and potentially trigger cell death. This targeted approach enables the delivery of radiation to the tumor, while limiting damage to the surrounding cells. As of today, Novartis has two approved RLTs for certain patients with metastatic castration-resistant prostate cancer and for certain types of gastroenteropancreatic neuroendocrine tumors. The company’s early and late pipeline has several programs in or entering the clinic, including a spectrum of studies and assets for prostate cancer, as well as other preclinical and discovery programs to identify the next wave of novel RLTs. Novartis is actively exploring new isotopes and new combinations with complementary mechanisms of action, as well as looking at new disease areas for RLT. Under the terms of the agreement, Novartis will make an upfront payment of USD 1 billion and additional USD 750 million in payments upon completion of pre-specified milestones.”
“ Switzerland $212 Billion Pharmaceutical Giant Novartis Buys United States Preclinical-Stage Biotechnology Firm Mariana Oncology for $1.75 Billion with $1 Billion in Upfront Payment & $750 Million Upon Completion of Specified Milestones “
About Novartis – Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people’s lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach more than 250 million people worldwide.
Switzerland $212 Billion Pharmaceutical Giant Novartis Buys United States Preclinical-Stage Biotechnology Firm Mariana Oncology for $1.75 Billion with $1 Billion in Upfront Payment & $750 Million Upon Completion of Specified Milestones
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