Novartis announces the planned acquisition of Advanced Accelerator Applications to strengthen oncology portfolio

Novartis to acquire Advanced Accelerator Applications pending outcome of tender offer and works council consultation. Acquisition would add Lutathera , a first-in-class RadioLigand Therapy (RLT) approved in Europe and under review in the US for neuroendocrine tumors (NETs) -   Integration of Advanced Accelerator Applications would build on Novartis' expertise in diseases associated with NETs and introduce a new technology platform to Novartis providing an innovative approach to treating cancer -   Advanced Accelerator Applications would bring to Novartis an expanded pipeline of RLT programs with significant sales potential, including ¹⁷⁷Lu-PSMA-R2 entering Phase 1/2 for prostate cancer Basel, October 30, 2017 - Novartis announced today, that it has entered a memorandum of understanding with Advanced Accelerator Applications (AAA) under which Novartis intends to commence a tender offer for 100% of the share capital of AAA subject to certain conditions. Advanced Accelerator Applications (NASDAQ:AAAP) is a radiopharmaceutical company that develops, produces and commercializes Molecular Nuclear Medicines including Lutathera (¹⁷⁷Lu-DOTATATE), a first-in-class RLT product for neuroendocrine tumors (NETs). Radiopharmaceuticals, such as Lutathera, are unique medicinal formulations containing radioisotopes which are used clinically for both diagnosis and therapy. The transaction would strengthen Novartis' oncology presence with both near-term product launches as well as a new technology platform with potential applications across a number of oncology early development programs.