Eli Lilly and Co. entered a definitive agreement to acquire POINT Biopharma Global, Inc., a radiopharmaceutical company with a pipeline of radioligand therapies in development for the treatment of cancer, for approximately $1.4 billion. Radioligand therapy can enable the precise targeting of cancer by linking a radioisotope to a targeting molecule that delivers radiation directly to cancer cells, enabling significant anti-tumor efficacy while limiting the impact to healthy tissue.
 
POINT’s lead programs are in late-phase development. PNT20021 is a prostate-specific membrane antigen (PSMA) targeted radioligand therapy in development for patients with metastatic castration-resistant prostate cancer (mCRPC) after progression on hormonal treatment. PNT20031 is a somatostatin receptor (SSTR) targeted radioligand therapy in development for the treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs). POINT has several programs in earlier stages of clinical and preclinical development.
 
The company operates a 180,000-sq.-ft. radiopharmaceutical manufacturing campus in Indianapolis, as well as a radiopharmaceutical R&D center in Toronto. These facilities will be used alongside POINT’s network of supply chain partners for sourcing radioisotopes and their precursors.
 
Jacob Van Naarden, President of Loxo@Lilly, the oncology unit of Eli Lilly and Company, said, “We are excited by the potential of this emerging modality and see the acquisition of POINT as the beginning of our investment in developing multiple meaningful radioligand medicines for hard-to-treat cancers, as we have done in small molecule and biologic oncology drug discovery and development. We look forward to welcoming POINT colleagues to Lilly and working together to build upon their achievements as we develop a pipeline of meaningful new radioligand treatments for patients.”
 
Joe McCann, Ph.D., CEO of POINT added, “The combination of POINT’s team, infrastructure and capabilities with Lilly’s global resources and experience could significantly accelerate the discovery, development and global access to radiopharmaceuticals. I look forward to a future where patients all over the world can benefit from the new cancer treatment options made possible by the joining of our two companies today.”