Radionetics Oncology
Radionetics Oncology makes small-molecule drugs that carry a radioactive isotope to receptors on the surface of cancer cells that have rarely been targeted before. Eli Lilly paid 140 million dollars in 2024 for the right to buy the company for 1 billion dollars.
Overview
Radionetics Oncology, a San Diego company that emerged from Crinetics Pharmaceuticals in October 2021, discovers and develops small-molecule radiopharmaceuticals against novel G protein-coupled receptor (GPCR) targets identified through AI-driven multi-omics. Its first phase 1 radiopharmaceutical programme, against a novel target for adrenocortical carcinoma, was initiated in October 2023. In January 2024 the company raised a USD 52.5 million Series A led by Frazier Life Sciences, 5AM Ventures and DCVC Bio, appointing Paul Grayson as CEO. In July 2024 it entered a strategic agreement with Eli Lilly under which Radionetics received a USD 140 million upfront payment and Lilly obtained the exclusive right to acquire the company for USD 1 billion after an exercise period, during which Radionetics continues to build its GPCR-targeted pipeline.
Funding
All startups| Round | Year | Amount | Source |
|---|---|---|---|
| Series A · Brought total raised to USD 82.5 million | 2024 | $53M | radionetics.com |
Amounts only where the cited source states them. Rounds without a public source are not listed.
Notes
top- The USD 140 million Lilly upfront payment is a strategic agreement, not an equity round, so it is described in the summary rather than in funding.