Novartis extends radiopharma plans with $1B acquisition of Mariana Oncology
Novartis already produces the leading drug in the radiopharmaceutical field. Now, it is devoting even more attention to these cancer treatments with a new acquisition.
Novartis is paying $1 billion upfront and up to an additional $750 million if certain milestones are met to acquire startup Mariana Oncology, the latter company announced Thursday. Mariana is a three-year-old company developing medicines that drop radioactive isotopes on cancer cells, decimating them in a more potent way than traditional radiation treatment. The startup was founded by investors Atlas Venture, Access Biotechnology, and RA Capital Management.
The acquisition presents a new avenue for Novartis, which already sells the leading radiopharmaceutical drug, Pluvicto. That drug is designed to treat prostate cancer by delivering the radioactive isotope lutetium-177 to a protein found on cancer cells called PSMA. Pluvicto is edging into blockbuster territory just a couple years after its launch; the drug brought in $980 million in sales last year.
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