No­var­tis pays Ger­man biotech $40M for ra­di­oli­gand ther­a­py, di­ag­nos­tic hit­ting 'first-in-class' tar­get

No­var­tis’ de­ci­sion to buy a ra­di­oli­gand ther­a­py from Clo­vis is prov­ing a boon for 3B Phar­ma­ceu­ti­cals, the small Ger­man biotech that orig­i­nal­ly de­vel­oped the drug, and now the phar­ma gi­ant is hand­ing over $40 mil­lion in an up­front pay­ment to 3B.

3B first struck a deal with Clo­vis back in 2019 to de­vel­op a pep­tide-tar­get­ed ra­dio­ther­a­py and imag­ing agent tar­get­ing fi­brob­last ac­ti­va­tion pro­tein (FAP) for $12 mil­lion. The deal gave birth to FAP-2286, which Clo­vis moved in­to Phase I be­fore it filed for bank­rupt­cy last De­cem­ber.

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