Ratio Therapeutics Inc. Monday announced partnership with Novartis Pharma AG, a unit of Novartis AG (NVS) to develop a radiotherapeutic candidate for cancer.
As per the deal, Ratio will receive up to $745 million in upfront and potential milestone payments together. It is also entitled to get tiered royalty payments.
Ratio will collaborate with Novartis to select an Somatostatin Receptor 2 (SSTR2)-targeting radiotherapeutic candidate. Novartis will be responsible for all development, manufacturing, and commercialization activities.
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