After acquiring a majority stake in ProteoVant last year, South Korea's SK Biopharm is continuing to hunt for new modalities and is now moving into the hot radiotherapeutics area through a deal with Full-Life Technologies.

Lilly paid $140m up front for an option to acquire Radionetics for $1bn within an undisclosed timeframe. The private firm is developing small molecule GPCR-targeted radiopharmaceuticals.

The big pharma will pay $60m upfront and make an equity investment in the Boston-based startup.

With big pharma on a radiopharmaceuticals buying spree, New York-based Actinium Pharmaceuticals has been pointed to as the next potential takeout target.