09:14 AM EST, 11/18/2024 (MT Newswires) -- Novartis ( NVS ) subsidiary Novartis Pharma signed an exclusive worldwide license and collaboration agreement with Ratio Therapeutics to develop a radiotherapeutic candidate that targets somatostatin receptor 2, or SSTR2, tumors, Ratio said Monday.

Ratio said it will receive up to $745 million in upfront and potential milestone payments, along with tiered royalty payments.

Ratio said the collaboration will build on its radioligand therapy discovery and focus on preclinical activities to select a development candidate. Novartis ( NVS ) will handle all remaining development, manufacturing, and commercialization activities, Ratio added.