POINT Biopharma to be acquired by Eli Lilly for $1.4bn

Eli Lilly and POINT Biopharma have announced a definitive agreement for Lilly to acquire POINT to expand its pipeline of clinical and preclinical-stage radioligand therapies for the treatment of cancer.
POINT’s lead programmes are in late-phase development, including PNT2002, a prostate-specific membrane antigen (PSMA) targeted radioligand therapy in development for the treatment of metastatic castration-resistant prostate cancer (mCRPC). Topline data from this study is expected later in 2023. Also,
PNT2003 is a somatostatin receptor (SSTR) targeted radioligand therapy being developed to treat patients with gastroenteropancreatic neuroendocrine tumours (GEP-NETs).
POINT also has several additional programmes in earlier stages of clinical and preclinical development.
Jacob Van Naarden, president of Loxo@Lilly, the oncology unit of Eli Lilly, commented: "Over the past few years, we have seen how well-designed radiopharmaceuticals can demonstrate meaningful results for patients with cancer and rapidly integrate into standards of care, yet the field remains in the early days of the impact it may ultimately deliver. 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 PhD, 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."