Novartis to Acquire Mariana Oncology

Mariana Oncology of Watertown has announced it will be acquired by Novartis for $1 billion upfront and up to $750 million in potential milestone payments. The acquisition brings together Mariana Oncology’s innovative radiopharmaceutical pipeline and platform with the proven clinical development and commercialization expertise of Novartis.

Mariana Oncology has developed a robust portfolio of novel peptide based-radiopharmaceuticals targeting a broad spectrum of solid tumor cancers, and has invested in manufacturing capabilities, an extensive isotope supply chain and novel formulations to enhance final product shelf-life. The company’s lead program, MC-339, is a novel radioligand therapy designed to target small cell lung cancer.

“Novartis is an established leader in the commercialization of radiopharmaceuticals with a world-class team and global reach. Together, we offer a compelling combination of capabilities,” said Simon Read, Mariana Founder and CEO. “In the short time since founding the company, the team at Mariana Oncology has developed a leading radiopharmaceutical discovery platform and an innovative pipeline. Our strategy has centered on overcoming the unique challenges of end-to-end radiopharmaceutical R&D and ultimately, delivery of these drugs to the bedside. Both Mariana and Novartis are committed to transforming cancer care, and together we will be in a better position to do that.”

Mariana was founded in 2021 by Atlas Venture, Access Biotechnology and RA Capital Management, and has raised additional funds from other top investors.The transaction is subject to customary closing conditions. (Source: Mariana Oncology Website, 02 May, 2024)