GordonMD® Global Investments announced today that Radionetics Oncology, a leader in developing targeted radiopharmaceuticals for cancer treatment, has formed a strategic partnership with Eli Lilly and Company (NYSE: LLY).
Dr. Craig Gordon, CEO of GordonMD® and Board Observer for Radionetics, expressed enthusiasm, highlighting Radionetics' commitment to advancing innovative cancer therapies, which resonates with their investment philosophy.
Under the terms, Radionetics, headquartered in San Diego, received an upfront cash payment of $140 million. The agreement grants Lilly the exclusive option to acquire Radionetics for $1 billion following a specified exercise period.
Radionetics' platform merges radiopharmaceutical capabilities with precise small molecule targeting, offering a unique approach to cancer care. Their pipeline focuses on small molecule radioligands that target G-protein coupled receptors (GPCRs), a promising avenue in oncology research.