On July 1, 2024, Radionetics Oncology, a biotechnology company discovering and developing novel small molecule G protein coupled receptor (GPCR) targeted radiopharmaceuticals to treat a broad range of solid tumors, announced the formation of a strategic relationship with Eli Lilly and Company to take forward Radionetics’ proprietary GPCR targeting small molecule radiopharmaceuticals. Wilson Sonsini Goodrich & Rosati has been primary patent counsel for Radionetics Oncology and advised the company on patent matters related to the transaction.

Under the terms of the agreement, Radionetics will receive a $140 million upfront payment. As part of the strategic arrangement, Lilly obtained the exclusive right to acquire Radionetics for $1 billion. During the exercise period, Radionetics will continue to build out a proprietary pipeline of therapeutic assets. These will include small molecule radioligand therapeutics targeting GPCRs using the Radionetics proprietary discovery platform and associated intellectual property.

The Wilson Sonsini team that advised Radionetics on patent matters related to the transaction was led by Valentin Zunic and included Kaia Parenti and Mike Hostetler.

For more information, please see Radionetics’ press release.