Novartis is adding on to its capabilities in radiopharmaceuticals through a deal to acquire Mariana Oncology, a startup with a drug pipeline and technologies that diversify the pharmaceutical giant’s scope in this fast-growing area of cancer drug research.
According to the deal terms announced Thursday, Novartis is paying $1 billion up front. Milestone payments could bring the Mariana shareholders another $750 million.
Novartis is already a leader in radiopharmaceuticals with two commercialized therapies, Lutathera for gastroenteropancreatic neuroendocrine tumors and Pluvicto for prostate cancer. Both products employ the radioisotope lutetium, a beta particle. Beta particles are smaller, making them good at penetrating tissue. But they are less potent than alpha particles.
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The research of Watertown, Massachusetts-based Mariana spans both alpha and beta particles. When Mariana emerged from stealth in 2021, co-founder and CEO Simon Read told MedCity News that working with both types of particles enabled the company to select the one best suited for a given cancer. Alpha particles could be used for smaller tumors while beta particles could be used for larger ones.
Mariana says it designs its peptide-based radioligand therapies to maximize tumor penetration while minimizing toxicity. Lead program MC-339, based on the alpha particle actinium, is in development as a treatment for small cell lung cancer. Mariana has not disclosed the target of this radiopharmaceutical.
Novartis’s two commercialized radiopharmaceuticals are from acquisitions: Lutathera came in 2017 followed by Pluvicto in 2018. The Swiss pharma giant’s purchase of Mariana continues a newer streak of radiopharmaceuticals dealmaking by other big pharma layers. Last year, Eli Lilly entered the radiopharmaceuticals space with the $1.4 billion acquisition of Point Biopharma. Bristol Myers Squibb soon followed with its $4.1 billion acquisition of RayzeBio. In March, AstraZeneca agreed to pay $2 billion to buy partner Fusion Pharmaceuticals.
Mariana was formed by the venture capital firms Atlas Ventures, Access Biotechnology, and RA Capital Management, launching in 2021 backed by $75 million in Series A financing. At that time, it was known as Curie Therapeutics. When Mariana closed its $175 million Series B financing last September, the company said it was preparing to advance MC-339 to the clinic in 2024. Besides MC-339, Mariana has not provided details about other programs in its pipeline.
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“This acquisition of Mariana Oncology brings to Novartis phenomenal talent and new capabilities in radioligand therapeutic research that complement our wide-ranging internal research and drug discovery efforts, in addition to our translational and clinical development capabilities,” Shiva Malek, global head of oncology for biomedical research at Novartis, said in a prepared statement.
Photo: Sebastien Bozon/AFP, via Getty Images
