Novartis to acquire radiopharmaceutical firm Mariana Oncology for up to $1.75B
Novartis on Thursday announced plans to acquire radiopharmaceutical firm Mariana Oncology for up to $1.75 billion.
The Swiss drugmaker said the deal will bolster its research infrastructure and clinical supply capabilities, with an eye toward improving oncologic care. Watertown, Massachusetts-based Mariana has a “robust” portfolio, with early development of drugs targeted at cancers of the breast, prostate and lung.
It’s also developing MC-339, an actinium-based radiopharmaceutical for small cell lung cancer.
“The acquisition of Mariana Oncology reflects our commitment to radioligand therapy as one of our company’s key technology platforms and strengthens our leadership in this field,” Fiona Marshall, president of biomedical research at Novartis, said May 2. “We are excited to work with the Mariana team to bring forward next generation [radioligand therapies] for patients living with cancer and together shape the future of RLT as a pillar for oncology treatment.”
Under the agreement, Novartis will make an upfront payment of $1 billion and an additional $750 million more upon completion of “prespecified milestones.” The Basel, Switzerland-based company also has two of its own approved radiopharmaceuticals for certain patients with prostate cancer and types of gastroenteropancreatic neuroendocrine tumors.
Radiopharmaceuticals are a form of precision medicine that combines a tumor-targeting molecule with a therapeutic radioisotope. They bind to specific receptors expressed on the surface of tumors, with emissions from the drug causing DNA damage, potentially triggering cell death.
Novartis earned U.S. FDA approval for its prostate cancer radiopharmaceutical therapy Pluvicto (and a complementary diagnostic imaging agent) in early 2022. Radiologists and nuclear medicine specialists complained of supply shortages of the drug last year.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.