Suzhou – September 22, 2026 -- Boomray Pharmaceuticals Co., Ltd. has signed an exclusive global license agreement with Novartis Pharma AG for an undisclosed preclinical radioligand therapy (RLT) asset, with total deal value reaching up to USD 900 million.
Novartis secures rights to undisclosed preclinical oncology asset
Under the agreement, BoomRay will be eligible to receive an upfront payment plus development, regulatory, and sales milestone payments totaling up to USD 900 million. The Suzhou-based company will also earn royalties on future global net sales of the licensed program.
Deal expands Novartis's growing radioligand therapy portfolio
Shiva Malek, Global Head of Oncology, Biomedical Research at Novartis, said the agreement complements the company's existing radioligand therapy portfolio and reflects a strategy of pairing external innovation with internal R&D capabilities. Bo Shan, CEO of BoomRay, called the pact a validation of the company's discovery and development platform.
BFC Group advised BoomRay on the transaction
BFC Group acted as financial advisor to BoomRay on the license agreement. BoomRay is a clinical-stage biotechnology company focused on radioligand therapies for precision oncology diagnostics and therapeutics, with integrated R&D spanning candidate discovery, radiochemistry, and clinical translation.