Novartis to buy radiology specialist Mariana Oncology for US$1 billion
Mariana Oncology is a preclinical-stage biotechnology company focused on developing novel radioligand therapies to treat cancers
NOVARTIS has entered an agreement to acquire US radiopharmaceutical company Mariana Oncology for US$1 billion, boosting its portfolio of cancer treatments in development, the Swiss drug manufacturer said on Thursday (May 2).
The deal also includes US$750 million of potential further payments upon achieving certain milestones, it added.
Mariana Oncology is a preclinical-stage biotechnology company focused on developing novel radioligand therapies (RLTs) to treat cancers.
“The transaction bolsters the Novartis RLT pipeline and expands the company’s research infrastructure and clinical supply capabilities,” Novartis said in a statement.
Novartis has been cutting jobs and costs, and spun off its generic drugs business Sandoz last year, part of a focus on fewer therapeutic areas and geographic markets.
In February, it struck a deal to buy German cancer drug developer MorphoSys for US$2.89 billion. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose
What role can Japan play in Asean’s future?
From folding clothes to factory work: Why China is sending humanoid robots to school
