Eli Lilly is again dipping into the buzzy area of radiopharmaceuticals by way of private biotech Aktis Oncology.
The pharma giant will dish out $60 million upfront and make an undisclosed equity investment in the Boston biotech, the companies said Tuesday morning. Lilly could pay up to $1.1 billion in biobucks and tiered royalties.
The pact with Aktis spans both solid tumor radiopharmaceutical medicines and diagnostics. Lilly will choose the targets and drive the global clinical development, the companies said.
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