RE: Biotech Trading and continued M&A12 Jun 2025 15:33
Clarivate had just published an interesting report which is downloadable for free - Avacta even gets a one line mention re their deal with POINT
'Radioligand therapies (RLTs) are ushering in a transformative era for precision oncology, merging decades of nuclear medicine innovation with cutting-edge biotechnology to target cancers with unprecedented specificity. These therapies combine radioactive isotopes with tumor-targeting ligands— such as peptides, antibodies or small molecules—to deliver localized radiation directly to cancer cells while sparing healthy tissue. The resurgence of interest in RLTs, driven by advancements in theranostics (integrated diagnostic and therapeutic agents), has positioned them as a cornerstone of next-generation cancer care. With the global radiopharmaceutical market projected to exceed $13bn over the next decade, the field is witnessing explosive growth fueled by clinical breakthroughs, strategic acquisitions and regulatory momentum.'
'The recent flurry of licensing partnerships, mergers and acquisitions (M&As) and venture capital (VC) financing includes Bristol Myers Squibb Co's $4.1bn acquisition of RayzeBio Inc, AstraZeneca's $2.4bn purchase of Fusion Pharmaceuticals Inc and Eli Lilly and Co's $1.4b nacquisition of POINT Biopharma. These transactions highlight the industry's commitment to expanding their radiopharmaceutical pipelines, as well as the promise of RLTs to truly disrupt cancer treatments. '
'Overall, Novartis is the biggest spender, shelling out approximately $6bn to acquire theranostic expertise and assets, including PLUVICTO, the first targeted RLT containing a radioisotope to make it to market, from Endocyte Inc for $2.1bn. As long-standing radiopharmaceutical leaders, Bayer and Novartis have demonstrated the marketability of RLTs, with PLUVICTO reaching blockbuster status ($1.39bn in sales), a 42% increase from 2023, and LUTATHERA hitting $724m in sales by the end of 2024, a 20% increase from 2023 (Novartis, 2024b). These companies have paved the way for further research and regulatory approvals in the field. Figure 1: PLUVICTO dominates forecasted sales of RLTs Already in the first month of 2025, $2.6bn has been spent in M&As, led by Lantheus Holdings in its acquisition of Evergreen Theragnostics Inc for an estimated $1.0bn and Life Molecular Imaging Ltd (LMI) for an estimated $780m. In the most recent M&A transaction, Telix acquired RLS Inc, the only Joint Commission-accredited radiopharmacy network distributing positron emission tomography (PET), single photon emission computed tomography (SPECT) and therapeutic radiopharmaceuticals, for $250m. As Telix looks to enable distribution of its products worldwide, this further cements its North American manufacturing footprint and presence in the United States.'
Lots of deals have been done, lots more to be done...👍