Eli Lilly has recently extended its presence in the radiopharmaceuticals sector through a new collaborative agreement with Aktis Oncology, a private biotech company. As part of this agreement, Lilly will supply Aktis with an initial payment of $60 million, as well as the potential to receive up to $1.1 billion in milestone-based payments and royalties on sales.
The terms of the collaboration provide Lilly with global rights to develop targets for radiopharmaceuticals discovered by Aktis, while excluding Aktis’ current pipeline of seven programmes. Aktis has received support from industry leaders such as Merck & Co, Novartis, and Bristol Myers Squibb (BMS), securing an $84 million Series A extension round in August 2022.
Aktis Oncology’s treatments involve targeted radiation to disrupt cancer cells’ DNA, with its leading candidate focusing on nectin-4, a protein overexpressed in breast and bladder cancers. In addition, Lilly completed a $1.4 billion acquisition of POINT Biopharma in October 2023, which includes two Phase III clinical trial lead programmes for prostate cancer and neuroendocrine tumours, further strengthening its radiopharmaceutical portfolio.
The radiopharmaceuticals market has witnessed significant transactions recently, with Novartis acquiring Mariana Oncology and BMS purchasing RayzeBio for substantial amounts. These acquisitions reflect the increasing interest and investment in radiopharmaceuticals, with venture financing for US-based companies in this field reaching over $1.2 billion between 2018-2023.
While the radiopharmaceutical sector presents opportunities, it also comes with its own set of challenges, such as managing supply chain issues due to the short half-life of radioisotopes. Despite these challenges, Lilly’s president expressed confidence in the collaboration, emphasizing its potential to enhance the company’s radiopharmaceutical capabilities.
In conclusion, Lilly’s collaboration with Aktis and the acquisition of POINT Biopharma represent significant advancements in its radiopharmaceutical portfolio. This strategic expansion aligns with the growing interest in radiopharmaceuticals within the pharmaceutical industry, and positions Lilly to make meaningful contributions to the sector’s development.