Novartis Beefs Up Radioligand Portfolio With iTheranostics Deal

Just a week after acing Phase 3 study evaluating radioligand therapy in prostate cancer, Novartis AG NVS is licensing the rights to develop and commercialize treatments based on a library of radioligand compounds from iTheranostics, a subsidiary of Sofie Biosciences.
These compounds target fibroblast activation protein or FAP, a cell surface protein found in low levels in healthy tissue but found in high levels in common cancers.
The agreement with Sofie includes the rights to develop the radioligand assets for imaging and therapeutic use.
Earlier today, Lantheus Holdings Inc acquired rights to NTI-1309, a PET oncology imaging agent that targets fibroblast activation protein.
Price Action: NVS shares are trading 0.6% lower at $86.85 in market trading hours on the last check Tuesday.