Singapore, Sept. 22 -- Boomray Pharmaceuticals, a China-based clinical-stage biotechnology company pioneering innovative radioligand therapies (RLTs) for precision oncology diagnostics and therapeutics, has entered into an exclusive global license agreement with Novartis Pharma AG 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, ro...