Eli Lilly inks deal to deepen stake in radiopharmaceuticals

An Australian clinical-stage radiopharmaceutical company specialising in targeted alpha therapies has expanded its strategic collaboration with Eli Lilly to advance innovative cancer treatments.

Lilly’s connection to AdvanCell began in 2023 when it acquired Point Biopharma for $1.4 billion. Earlier that year, Point had partnered with AdvanCell to develop lead-212-labeled radioligands. The new agreement builds on that foundation, broadening the scope of lead-212 targeted alpha therapies under development.

“This collaboration with Lilly represents a significant milestone for AdvanCell, recognising our company as one of the leaders in the Pb-212 targeted alpha therapy space,” said Andrew Adamovich, CEO of AdvanCell.

“By combining our groundbreaking isotope production capabilities, our team’s expertise and infrastructure with Lilly’s pharmaceutical and oncology expertise and global scale, we aim to bring transformative treatments to patients with hard-to-treat cancers. It is especially pleasing to continue and expand our existing relationship.”

Jacob Van Naarden, President of Lilly Oncology, added “Partnering with AdvanCell aligns with our commitment to advancing innovative radiopharmaceuticals. We are excited to explore the potential of Pb-212-based alpha therapies as we work to bring meaningful new treatments for patients.”

AdvanCell has gained momentum since its initial partnership with Point Biopharma in 2023. The company recently secured a $112 million Series C financing round co-led by SV Health Investors, Sanofi Ventures, Abingworth, and SymBiosis. Its pipeline includes a potential competitor to Novartis’ prostate cancer drug Pluvicto, positioning AdvanCell as a rising force in the radiopharmaceutical market.

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