Indianapolis-based Eli Lilly and Co. agreed to acquire Point Biopharma Global Inc. for $12.50 per share in cash, or about $1.4 billion, in a deal that would bring the pharma company a pipeline of preclinical and clinical radioligand therapies for cancer. The purchase price is an 87% premium to Point’s closing stock price on Oct. 2, and a 68% premium to the 30-day volume-weighted average price. Shares (NASDAQ:PNT) of Point, also of Indianapolis, rose 84.9%, or $5.67, to close at $12.36 on Oct. 3.
Rayzebio Inc. raised $160 million in a series D round and unveiled its lead targeted radiopharmaceutical drug candidate, RYZ-101, which has entered clinical development in patients with gastroenteropancreatic neuroendocrine tumors expressing the somatostatin receptor type 2.
Aktis Oncology Inc. raised $72 million in a series A round and set out its stall as another contender with big ambitions in the rapidly developing field of targeted radiopharmaceuticals for solid tumor indications.
