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Novartis Plans Acquisition of Mariana Oncology, Advancing Precision Radiopharmaceuticals for Cancer Treatment

Friday, May 03, 2024

Novartis has announced its acquisition of Mariana Oncology for an upfront payment of $1 billion, with potential milestone payments of up to $750 million. This merger joins Mariana's innovative radiopharmaceutical portfolio with Novartis's expertise in clinical development and commercialization.

Mariana Oncology has focused on pioneering peptide-based radiopharmaceuticals for a wide range of solid tumor cancers, investing in manufacturing capabilities, isotope supply chain, and formulations to improve product shelf-life. Their flagship program, MC-339, targets small cell lung cancer with a novel radioligand therapy (RLT).

Simon Read, Mariana Oncology's Founder and CEO, expressed confidence in the synergy between the two companies, highlighting their shared commitment to revolutionizing cancer care. Dr. Shiva Malek, Global Head of Oncology for Biomedical Research at Novartis, echoed this sentiment, emphasizing the complementary nature of Mariana's research capabilities with Novartis's existing strengths.

Founded in 2021, Mariana Oncology received initial backing from prominent investors like Atlas Venture, Access Biotechnology, and RA Capital Management, later securing additional funding from DeepTrack Capital and Forbion.

The acquisition, subject to customary closing conditions, was facilitated by Centerview Partners LLC as financial advisor and Goodwin Procter as legal counsel to Mariana Oncology.

 

Source: businesswire.com

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