With its newest $1 billion deal with Marina Oncology, Novartis moves one step closer to unlocking the potential of radiopharmaceuticals. Talks about the deal began in January during the J.P. Morgan Healthcare Conference, and the details are expected to be finalized sometime this week, pending approval from the Federal Trade Commission.
For Marina, the motivation for the deal came from Novartis’s ability to bring drugs to market. Novartis, with existing radioligand therapies like Lutathera and Pluvicto, found Marina’s innovation appealing. Marina’s use of the radioactive metallic element actinium, compared to Novartis’s use of lutetium, opens up new possibilities in radioisotopes for Novartis.
Despite concerns about overlap in pipelines, Novartis’s Lutathera and Pluvicto are approved for different cancers than Marina’s lead program MC-339, developed for small cell lung cancer. Marina’s broader pipeline targets a wider range of tumor types. While Novartis has struggled to get drugs to patients in the past, Marina’s acquisition is not expected to impact patient supply, as Marina lacks manufacturing capabilities, instead focusing on early-stage research.
In terms of finances, Marina will receive an additional $750 million in milestone payments from Novartis, with details undisclosed. Novartis assures that Marina’s experienced staff will retain their roles, emphasizing the importance of their talent. The acquisition will maintain Marina’s organization intact, with no layoffs planned in the near future.
Founded in 2021 with funding from Eli Lilly, Access Biotechnology, RA Capital Management, and Atlas Venture, Marina has made significant progress, raising $175 million in last year’s series B funding. Bernard Lambert currently heads the manufacturing team, and a joint steering committee will ensure Marina’s continued function post-acquisition.
