GordonMD^® Global Investments today announced that portfolio company Radionetics Oncology, a leader in developing targeted radiopharmaceuticals for cancer treatment, has entered into a strategic agreement with Eli Lilly and Company, (NYSE: LLY).

“We are thrilled to support Radionetics Oncology,” said Dr. Craig Gordon, Chief Executive Officer of GordonMD^®, who is also a Board of Directors Observer for Radionetics. “Their dedication to developing next-generation cancer treatments aligns perfectly with our investment philosophy of fostering innovation in healthcare.”

Under the terms of the agreement, San Diego-based Radionetics received a $140 million upfront cash payment. As part of the strategic arrangement, Lilly obtained the exclusive right to acquire Radionetics upon conclusion of an exercise period for $1 billion.

Radionetics’ platform combines the power of radiopharmaceuticals with the precision of small molecule targeting, offering a unique approach to cancer treatment. Its pipeline focuses on small molecule radioligands targeting GPCRs, a promising class of targets with significant potential in oncology.

About GordonMD^® Global Investments

GordonMD^® Global Investments LP was founded in 2021 by Craig Gordon, MD, a licensed physician with more than 13 years of buy-side experience managing global biopharmaceutical portfolios. The firm focuses on identifying differentiated investment opportunities in biopharmaceutical companies primarily located in the U.S., Europe and Japan. It currently provides investment management and administrative services to a hedge fund investing primarily in publicly traded companies as well as to two private equity funds.

About Radionetics Oncology

Radionetics Oncology, Inc. is a clinical stage company focused on the discovery and development of novel radiopharmaceuticals for the treatment of a wide range of oncology indications and is poised to capitalize on the increasing demand for novel radiotherapeutics. Radionetics Oncology is supported by Frazier Life Sciences, 5AM Ventures, DCVC Bio, Crinetics Pharmaceuticals, and GordonMD Global Investments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240708644984/en/