POINT Biopharma Global, Inc.

C Ray Therapeutics has announced the completion of a series A+ financing round, which has exceeded the $100 million mark. The round was co-led by Shenzhen Capital Group and TaiLong Capital, with participation of GL Ventures, 3SBio, Guanghua Wuting among others. Headquartered in Chengdu, China, C Ray Therapeutics specializes in the development of radionuclide drug conjugates (RDCs), a drug modality consisting of a drug carrier molecule linked to a radioactive molecule. This technology enables the delivery of a radiotherapeutic payload to a specific target, preventing or reducing the potential side effects associated with systemic delivery of a radioactive compound. Radiopharmaceuticals have a wide range of applications, including cardiovascular diseases, neurological disorders, and oncology. The latter is a major area of interest for the pharmaceutical industry, where RDCs can be used for diagnostic applications as well as a therapeutic modality. Founded in late 2020, C Ray Therapeutics has rapidly established world-class facilities and expertise in R&D, production and supply chain management of radiopharmaceuticals. This includes end-to-end contract research, development and manufacturing organization (CRDMO) services for radiopharmaceuticals, from early discovery through commercial production. Innovative radiopharmaceuticals “C Ray Therapeutics has now entered a critical phase of rapid development,” stated a representative of the company’s board of directors and management team. “With the successful launch of our Class A production base, the smooth progress of clinical trials, overseas business development, and CRDMO services, we are confident that C Ray Therapeutics will accelerate the development of innovative radiopharmaceuticals, technologies, and service platforms that maximize benefits for patients. Our goal is to become a leading innovative radiopharmaceutical enterprise not only in China but also globally.” googletag.cmd.push(function () { googletag.display('text-ad1'); }); Investment in radiopharmaceuticals has been on the rise over the past year, as big pharma have increased their activity in the space. Eli Lilly has been progressively increasing its reach into radiopharmaceuticals, with the acquisition of Point Biopharma for $1.4 billion last year, a $1.1 billion partnership with Aktis Oncology in May this year, and a recent acquisition deal ​ with Radionetics Oncology potentially worth $1 billion in July. Other major players include Novartis, which acquired Mariana Oncology in May, and BMS, which entered the field at the end of last year with the $4.1 billion acquisition of RayzeBio. The growing interest in this area has also led to the creation of contract development and manufacturing organization (CDMO) facilities fully dedicated to radiopharmaceuticals ​.

In an effort to protect the patent rights for radiation ligand therapy, Novartis has filed a lawsuit against Eli Lilly and its partner Lantheus, alleging infringement of the patent rights for the prostate cancer drug Pluvicto. As Novartis expands into radiopharmaceuticals, the Swiss pharmaceutical giant has stepped up its legal offensive against rivals. In a series of lawsuits filed during the year, Novartis accused several competitors of infringing patents for its radiation ligand therapies, Pluvicto and Lutathera. The lawsuits involve Eli Lilly, its recently acquired Point Biopharma and its partner Lantheus, as well as Curium Pharma in Europe. Novartis is working to increase Pluvicto's market share in prostate cancer treatment and Lutathera's market share in neuroendocrine tumor treatment. Pluvicto achieved sales of $1.04 billion in the first three quarters of 2024, successfully surpassing major sales milestones. Lutathera's sales continued to grow at a double-digit rate, which could be attributed to increased adoption of its first-line applications. In a lawsuit filed in the U.S. District Court for the Southern District of Indiana, Novartis, in conjunction with Purdue Research Foundation, alleges that Point's PNT2002 infringes U.S. Patent No. 10,624,970. The patent, which relates to PSMA binding couplings and related pharmaceutical preparations and methods for the treatment of prostate cancer, was granted to Purdue in 2020 and subsequently to Endocyte, a subsidiary of Novartis. Both PNT2002 and Pluvicto target PSMA positive prostate cancer and will compete directly with each other. PNT2002 is a key asset in Lilly's $1.4 billion acquisition of Point last year and part of a potentially $2 billion strategic partnership between Point and Lantheus two years ago.

iStock, JHVEPhoto Thursday’s agreement with Orano Med is the second in as many months. Sanofi in September made its first foray into the radioligand space with a $110 million licensing deal with Orano Med and Texas biotech RadioMedix. Sanofi on Thursday announced a partnership with radiopharma-focused Orano Med, paying approximately $326 million to obtain a 16% stake in the biotech. The companies will work collaboratively to advance next-generation radiotherapies for rare cancers. Leveraging Orano’s expertise in alpha therapies, the partners will discover, design and develop radioligand treatments based on lead-212 alpha-emitting isotopes. Sanofi and Orano have yet to reveal specific disease targets. Sanofi CEO Paul Hudson in a statement said that the agreement “unites our respective expertise in biopharma and nuclear technology to drive groundbreaking progress in the fight against cancer.” The partnership also falls in line with the pharma’s ongoing efforts to reshape and reprioritize its pipeline assets, with a focus on difficult-to-treat malignancies including hematologic cancers and solid tumors with “critical unmet needs,” according to Sanofi. Among Sanofi’s high-priority targets are multiple myeloma, acute myeloid leukemia and certain types of gastrointestinal and lung cancers. Orano’s targeted alpha therapy platform combines two key advancements in cancer therapeutics—the targeted nature of biologic treatments and the “short-range cell-killing capabilities” of radioisotopes, according to the biotech’s website . Candidates developed using this platform consist of an alpha-emitting lead-212 atom, a biological vector and a linker between the two. This structure gives rise to the unique mechanism of action of targeted alpha therapies that allows them to destroy target cancer cells while also minimizing off-target impacts and damage to nearby healthy tissues. According to Sanofi, Orano’s alpha treatments aim to change “the standard of care in some rare cancers,” potentially prolonging patients’ lives while also boosting their quality of life. Sanofi last month made its first foray into the space with a $110 million licensing deal with Orano Med and Texas biotech RadioMedix. At the center of the three-way agreement is AlphaMedix, a lead-212 targeted radioligand therapy, being developed for gastroenteropancreatic neuroendocrine tumors (GEP-NETs). Targeted radiotherapies have continued to be an attractive area for Big Pharma investment. Novartis is currently the radiopharma frontrunner with its FDA-approved prostate cancer therapy Pluvicto, alongside the GEP-NETs treatment Lutathera. In August 2024, Novartis put $2.7 billion on the line to further deepen its radiotherapy expertise, inking a peptide discovery partnership with Japan-based PeptiDream to use its platform technology to discover new macrocyclic peptides that it can conjugate into radioligand therapies. Close on Novartis’ heels are Bristol Myers Squibb, which in December 2023 acquired radiopharma specialist RayzeBio for $4.1 billion , and Eli Lilly, which in October 2023 bought Point Biopharma for $1.4 billion .