Mariana Oncology to be Acquired by Novartis to Advance Precision Radiopharmaceuticals to Treat Cancer
Mariana Oncology, a fully integrated biotechnology company pioneering a new era of radiopharmaceutical innovation to treat people with cancer, today announced it will be acquired by Novartis for $1 billion upfront and up to $750 million in potential milestone payments. The acquisition brings together Mariana Oncology’s innovative radiopharmaceutical pipeline and platform with the proven clinical development and commercialization expertise of Novartis.
Mariana Oncology has developed a robust portfolio of novel peptide based-radiopharmaceuticals targeting a broad spectrum of solid tumor cancers, and has invested in manufacturing capabilities, an extensive isotope supply chain and novel formulations to enhance final product shelf-life. The company’s lead program, MC-339, is a novel radioligand therapy (RLT) designed to target small cell lung cancer.
“Novartis is an established leader in the commercialization of radiopharmaceuticals with a world-class team and global reach. Together, we offer a compelling combination of capabilities,” said Simon Read, Founder and CEO, Mariana Oncology. “In the short time since founding the company, the team at Mariana Oncology has developed a leading radiopharmaceutical discovery platform and an innovative pipeline. Our strategy has centered on overcoming the unique challenges of end-to-end radiopharmaceutical R&D and ultimately, delivery of these drugs to the bedside. Both Mariana and Novartis are committed to transforming cancer care, and together we will be in a better position to do that.”
“This acquisition of Mariana Oncology brings to Novartis phenomenal talent and new capabilities in radioligand therapeutic research that complement our wide-ranging internal research and drug discovery efforts, in addition to our translational and clinical development capabilities,” said Shiva Malek, PhD, Global Head of Oncology for Biomedical Research at Novartis. “This is an ideal pairing, and we are thrilled to continue to do pioneering science together, translating RLT discovery into clinical development to deliver transformative therapies to patients.”
Mariana was founded in 2021 by Atlas Venture, Access Biotechnology and RA Capital Management, and has raised additional funds from other top investors including DeepTrack Capital and Forbion.
The transaction is subject to customary closing conditions.
Centerview Partners LLC served as financial advisor, and Goodwin Procter as legal counsel to Mariana Oncology on the transaction.
About Mariana Oncology
Mariana Oncology is a fully integrated, radiopharmaceutical company pioneering a new standard of care in cancer treatment – targeted peptide-based radioligand therapeutics (RLTs) designed to maximize tumor penetration while minimizing toxicity. Mariana is comprised of some of the world’s leading experts in radiopharmaceutical science and manufacturing who together are pioneering innovations in end-to-end discovery, development and delivery of radioligand therapeutics. The company has developed a portfolio of novel RLTs designed to target a broad range of difficult-to-treat cancers. Mariana’s lead program, MC-339, is an actinium-based radioligand therapeutic being investigated to treat small cell lung cancer.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240502315526/en/
Contact information
Media:
media@marianaoncology.com
Investors:
Chris Brinzey, ICR Westwicke
chris.brinzey@westwicke.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Trade in Counterfeit Goods Market Set to Reach €1.67 Trillion in 2030 – Corsearch17.5.2024 00:00:00 CEST | Press release
Corsearch, leading provider of brand protection and trademark solutions, has today shared research predicting that the size of the global trade in counterfeit goods could reach €1.67 trillion by 2030, a 75% increase from that of 2023 and a growth 3.6 times higher than predicted for the global economy over the same period.1 Corsearch calculations estimate that counterfeits accounted for 3.3% of global trade in 2023, and will grow to 5% by 2030 - meaning €1 in every €20 spent globally on products could be spent on counterfeit goods. The total displaced economic activity from counterfeiting in 2022 – namely the cost to brands and manufacturers – totalled €1.02 trillion, resulting in a loss of €162 billion to worldwide sales tax revenue, impacting up to 5.4m jobs.2 In addition to the negative global economic impact of counterfeiting, fake products have a damaging effect on the reputation of brands, reducing customer trust and risking consumer safety. Corsearch has recognised the need for a
BYD Launches Its First Pickup Truck BYD SHARK in Mexico16.5.2024 18:56:00 CEST | Press release
On May 14, BYD launches its first pickup truck, BYD SHARK, in Mexico. Positioned as a new energy intelligent luxury pickup, BYD SHARK features the DMO Super Hybrid Off-road Platform, representing the latest addition to BYD's product portfolio. This model, developed for the global market, marks BYD's first global product launch outside of China, promising to redefine the global plug-in hybrid pickup market with advanced technology and diverse user-centric features. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240515345632/en/ (Photo: Business Wire) The product launch, themed Hybrid Power, Wild Spirit, showcased an immersive display of innovative intelligent experiences and all-terrain extreme off-road scenarios, transforming into a 'technological theme park' brimming with exploratory fun and interactions. With over 1000 guests in attendance, the event witnessed the debut of BYD SHARK. Stella Li, Executive Vice President of
Anabranch Capital Management intends to reject Forseti III AB’s offer to the shareholders of Karnov Group AB16.5.2024 18:19:00 CEST | Press release
Funds managed by Anabranch Capital Management, LP (“Anabranch”) have owned shares of Karnov Group AB (“Karnov” or the “Company”) (KAR SS) since June 2023 and currently own more than 5.7 million shares, corresponding to approximately 5.3% of all outstanding shares in the Company. Anabranch believes the SEK 84 per share offer from Forseti III AB is far below Karnov’s intrinsic value, and Anabranch intends to reject the offer. Disclaimer: The views expressed are those of the authors and Anabranch Capital Management, LP as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information provided should not be considered a recommendation to buy or sell any of the securities mentioned nor a recommendation on how or if to vote or act, and should be construed only as an expression of how Anabra
Weber LUMIN Electric Grill Wins Prestigious Red Dot Award for Product Design16.5.2024 16:00:00 CEST | Press release
Weber LLC, the global leader in outdoor cooking innovation, technology, and products, announced today its LUMIN electric grill received a Red Dot Award in the Red Dot Award: Product Design 2024 competition. The Red Dot Design Award, established in 1955, is one of the world’s largest and most prestigious design competitions, receiving more than 20,000 annual submissions from approximately 60 countries worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240516349562/en/ The Weber LUMIN electric grill received a Red Dot Award in the Red Dot Award: Product Design 2024 competition. (Photo: Business Wire) The Weber LUMIN electric grill, featuring a sleek, space-efficient, contemporary silhouette, received the Red Dot Award for its innovative and high-quality design. It is an ideal grill for outdoor cooks with limited space who desire eco-conscious fuel choices, or who live in a location where other forms of grilling are not
Brightcove Named a Leader in ‘The Aragon Research Globe for Enterprise Video, 2024’ Report for the Third Consecutive Year16.5.2024 14:57:00 CEST | Press release
Brightcove (Nasdaq: BCOV), the world’s most trusted streaming technology company, was named a “Leader” by Aragon Research, Inc. in “The Aragon Research Globe™ for Enterprise Video, 2024” report for a third consecutive year. The company was identified as a Leader due to its market solutions and industry-leading video streaming offerings. “Brightcove powers the video needs of some of the world’s largest brands, which is a result of our commitment to delivering innovative streaming technology and an open-architecture platform that can scale globally,” said Marc DeBevoise, CEO of Brightcove. “It is an honor to be recognized by Aragon Research as a Leader in the industry. We believe our position in this report is a strong validation of the cutting-edge products, services, and solutions we offer our clients to help them achieve their business goals.” Brightcove's platform focuses on supporting businesses in creating, editing, hosting, managing, and distributing video content across multiple