On October 21, 2024 3B Pharmaceuticals GmbH (3BP), a privately-held German biotechnology company focused on research and development of radiopharmaceutical precision therapies for cancer patients, reported it has signed an option and asset purchase agreement with Novartis Pharma AG (Novartis) for its prostatespecific membrane antigen (PSMA) program (Press release, 3B Pharmaceuticals, OCT 21, 2024, View Source [SID1234647277]).

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3BP’s program includes a novel PSMA-binding molecule that may be a potential nextgeneration radioligand therapy (RLT) for prostate cancer and is currently being studied in two investigator-initiated trials.

"This agreement with Novartis marks a pivotal moment for 3BP," said Ulrich Reineke, Managing Director of 3B Pharmaceuticals. "If the option for the asset purchase is exercised, we are confident that Novartis, with its strong commitment and expertise in radioligand therapies, will drive the continued clinical development of our lead PSMA-targeted molecule and advance it to help prostate cancer patients worldwide."

Financial details of the agreement have not been disclosed.