On Tuesday, private biotechnology company Aktis Oncology announced its partnership with Lillyvsc888slot.US) reached a cooperation agreement to develop cancer preventionvsc888slotIn terms of milestone payments alone, the deal is worth as much as $1.1 billion.
As part of the partnership, Lilly will leverage Aktis 'radiopharmaceutical platform to focus on radiopharmaceutical development and commercialization for solid tumors.
Under the terms of the agreement, Aktis will receive an advance payment of $60 million, which is Lilly's equity investment, in addition to potential milestone payments worth up to $1.1 billion.
Aktis CEO Matthew Roden said: "We are pleased to work with Lilly in an effort to increase the number of patients receiving meaningful clinical benefits from targeted radiopharmaceuticals."
The deal comes as the radiopharmaceutical sector is attracting the attention of major pharmaceutical companies. In December last year, Lilly completed the project with $1.4 billion in cashvsc888slotThe acquisition of radiopharmaceutical developer Point Bipharma.