In a significant expansion of its healthcare empire, Novartis AG announced on Thursday its plans to acquire U.S.-based Mariana Oncology. This deal, valued at up to $1.75 billion, underscores Novartis’s commitment to enhancing its precision nuclear medicine offerings.
Novartis to Acquire Mariana for $1.75B : Bolstering the Oncology Portfolio
Novartis will make an initial payment of $1 billion with an additional $750 million earmarked for “potential milestone payments.” The specifics of these payments remain undisclosed. The acquisition hinges on several closing conditions, which have not been detailed by Novartis.
Legal Framework and Guidance
Legal expertise for the deal is being provided by Freshfields Bruckhaus Deringer LLP with Jenny Hochenberg and Steven Li leading the team for Novartis. On the other side, Mariana Oncology has enlisted Goodwin Procter LLP, with partners Laura U. Gulick, Kingsley Taft, and associate Sam Beavers at the helm.
Revolutionary Cancer Treatment
Shiva Malek, Novartis’s global head of oncology for biomedical research, highlighted the strategic importance of acquiring Mariana’s innovative radioligand cancer therapies. Radioligand therapy (RLT) is recognized for its ability to precisely target advanced cancers with minimal collateral damage to surrounding tissues. “We are dedicated to building on our scientific leadership and expanding the breadth of these potentially transformative treatments to a broader range of cancer types,” Malek commented.
