On September, 22, 2026, Boomray Pharmaceuticals Co., Ltd. (“BoomRay”), a clinical-stage biotechnology company pioneering innovative radioligand therapies (RLTs) for precision oncology diagnostics and therapeutics, announced that it has entered into an exclusive global license agreement with Novartis Pharma AG (“Novartis”) 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 USD 900 million, including an upfront payment as well as development, regulatory, and sales milestone payments.  In addition, royalties may be earned on future global net sales.

“We are honored and excited to enter into this agreement with Novartis, a recognized global leader in radioligand therapies, with an exceptional track record in delivering transformative medicines to patients,” said Bo Shan, Chief Executive Officer of BoomRay. “This agreement marks a significant milestone for BoomRay and is a strong validation of our discovery and development capabilities. We believe this agreement with Novartis will unlock the full potential of this asset and accelerate its path to patients worldwide.”

Fangda advised BoomRay on the transaction and provided comprehensive legal services. The team was led by partners Chao HUANG, Henry HE and Bella WANG, who advised on the transaction structuring and led the negotiation and revision of the transaction documents. Team members included counsel Jiali YANG and associates Audrey LUO, Yara YANG and Joey YUAN. Compliance member Sherman DENG provided advice on cross-border data compliance matters. Fangda’s multidisciplinary teams worked closely and efficiently throughout the transaction, providing strong support for its successful execution.