The partnership combines BoomRay’s internal discovery capabilities with the established infrastructure of Novartis in the radioligand space. Under the arrangement, the Chinese biotech firm becomes eligible for an upfront payment alongside tiered development, regulatory, and sales milestones. Both companies emphasized that the collaboration aims to accelerate the clinical translation of the asset, which is designed to address unmet needs in cancer treatment.
BoomRay Licenses Preclinical Radioligand Asset to Novartis
Suzhou-based BoomRay Pharmaceuticals has secured an exclusive global licensing deal with Novartis for an undisclosed preclinical radioligand therapy. The agreement, potentially worth up to USD 900 million in milestone payments and royalties, marks a major expansion of the Swiss pharmaceutical giant’s precision oncology pipeline.
Bo Shan, Chief Executive Officer of BoomRay, described the deal as a validation of the company's research-focused approach to radiochemistry and oncology. Shiva Malek, Global Head of Oncology at Novartis, noted that the acquisition complements the firm's existing portfolio, reinforcing a strategy of integrating external innovation to bolster its research efforts. BFC Group served as the financial advisor for the transaction.
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