Novartis announced Thursday a $1 billion acquisition of Massachusetts-based Mariana Oncology, marking another significant investment in the rapidly expanding radioligand therapy sector. The deal includes up to $750 million in milestone payments and will provide Novartis with access to Mariana's preclinical cancer pipeline and specialized clinical supply capabilities.
Strategic Expansion in Radioligand Therapy
The acquisition centers on Mariana's lead candidate MC-339, a peptidic small molecule engineered to carry a radioactive actinium payload. The therapy targets an undisclosed protein in small cell lung cancer cells, designed to deliver a fatal dose of actinium to cancer cells while minimizing damage to healthy tissue. Mariana was planning to advance MC-339 into clinical trials in 2024 following its $175 million Series B financing round in 2023.
"Novartis is committed to pioneering RLT science and accelerating the advancement of new treatments that have the potential to help patients with difficult-to-treat cancers," a Novartis spokesperson told BioProcess Insider. "The acquisition encompasses a robust portfolio of RLT programs spanning lead optimization to early development across a range of solid tumor indications such as breast, prostate, and lung cancer."
Manufacturing Capabilities and Platform Technology
Mariana brings critical radiopharmaceutical manufacturing infrastructure to address the unique challenges posed by radioligand therapies. Radioisotopes have short half-lives and require specialized facilities for production and handling. Novartis previously experienced supply challenges with its approved radioligand therapy Pluvicto, though CEO Vas Narasimhan reported in April 2024 that "supply performance is now consistently at a very high level with over 99.5% of injections administered on the planned day."
The acquired company's oncology radio-conjugation platform utilizes both alpha- and beta-emitting radionuclides. According to Mariana, its technology allows ligands to switch between alpha and beta radionuclides depending on the desired radiobiology, with the choice of payload determined by the medical setting and therapeutic needs.
Competitive Landscape and Market Position
Novartis established an early position in radiopharmaceuticals through its 2018 acquisitions of Advanced Accelerator Applications and Endocyte for a combined $6 billion, adding Lutathera and Pluvicto to its portfolio. The company has continued expanding through recent partnerships with 3B Pharmaceuticals, Bicycle Therapeutics, and PeptiDream.
The radioligand therapy space has attracted significant investment from major pharmaceutical companies. AstraZeneca, Bristol Myers Squibb, and Eli Lilly have each paid between $1.4 billion and $4.1 billion to acquire specialized biotechs in recent months, highlighting the competitive intensity in this therapeutic area.
Financial Background and Development Timeline
Mariana emerged from stealth mode in 2021 with $75 million in initial funding, followed by the $175 million Series B round in 2023. The biotech used these funds to establish its pipeline and build radiopharmaceutical manufacturing capabilities to support clinical trials, though the company is not yet equipped for commercial-scale production.
Novartis currently operates radioligand therapy manufacturing sites in Ivrea, Italy; Zaragoza, Spain; and Milburn, New Jersey. In December 2023, the company invested 600 million yuan ($84.6 million) in a production facility in Zhejiang province, China, citing radiopharmaceuticals as a key strategic growth area.
The Mariana acquisition is subject to customary closing conditions and aligns with Novartis' broader oncology strategy, which has included this year's 2.7 billion euro ($2.9 billion) acquisition of MorphoSys and a $150 million licensing deal for Arvinas' Phase III-ready protein degrader.
