10:48 AM EDT, 07/01/2024 (MT Newswires) -- Eli Lilly ( LLY ) formed a strategic partnership with Radionetics Oncology to advance the latter's G protein coupled receptor-targeted small molecule radiopharmaceuticals for treating solid tumors, Radionetics said Monday.

Radionetics said it received an upfront payment of $140 million, and Lilly has the exclusive option to acquire Radionetics for $1 billion after an exercise period.

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