BoomRay Licenses Novel Radioligand Therapy Asset to Novartis

BoomRay Pharmaceuticals, a clinical-stage biotechnology company developing radioligand therapies for precision oncology, announced a global license agreement with Novartis.

The agreement grants Novartis exclusive worldwide rights to a novel RLT asset developed by BoomRay. This therapy is designed to target and treat specific types of cancer. The terms include an upfront payment and potential future milestone payments for BoomRay.

Under the agreement, Novartis will lead the further development, clinical trials, and commercialization of the RLT asset globally. Specific financial terms were not disclosed.

BoomRay will continue to focus on its internal pipeline of RLT candidates and pursue collaborations to advance oncology treatments.