Goodwin Advises BoomRay on Intellectual Property Aspects for License Agreement for Up To $900 Million With Novartis

The Life Sciences team advised BoomRay Pharmaceuticals (“BoomRay”) on IP aspects associated with entering into an exclusive global license agreement with Novartis Pharma AG (“Novartis”) for an undisclosed preclinical RLT asset. The agreement brings together BoomRay’s discovery and development capabilities with the global expertise of Novartis in the RLT space to pursue the goal of delivering meaningful therapeutic benefit to patients worldwide. Under the terms of the agreement, BoomRay will be eligible to receive up to $900 million, including an upfront payment, as well as development, regulatory, and sales milestone payments. In addition, royalties may be earned on future global net sales.

BoomRay Pharmaceuticals is a clinical-stage biotechnology company pioneering innovative radioligand therapies (RLTs) for precision oncology diagnostics and therapeutics. Built on deep-rooted radiopharmaceutical expertise and fully integrated R&D capabilities spanning candidate discovery, radiochemistry, and clinical translation, the company is advancing a proprietary RLT pipeline with first-in-class or best-in-class potential. Backed by a seasoned leadership team and a dedicated scientific team, BoomRay is committed to delivering novel precision radiopharmaceuticals to address critical unmet medical needs in oncology worldwide.

The Goodwin team was led by Bill Christiansen, Xixi Sun, and Kitty Zhang.

For more information on the deal, please read the press release.