Bristol Myers Squibb (BMS; NYSE: BMY) has announced the acquisition of RayzeBio (NASDAQ: RYZB), a clinical-stage developer of actinium-based radiopharmaceutical therapeutics (RPT), bolstering its oncology portfolio. BMS will purchase all outstanding shares of RayzeBio for an estimated $4.1 billion, with the transaction anticipated to close in the first half of 2024, subject to customary closing conditions.
RayzeBio’s actinium-based RPTs offer the potential for enhanced efficacy and targeted delivery due to the high potency and short range of alpha-emitting payloads. The company’s therapeutic portfolio targets solid tumors including gastroenteropancreatic neuroendocrine tumors (GEP-NETs), small cell lung cancer (SCLC), and hepatocellular carcinoma (HCC). It features an SSTR2-targeting lead candidate in Phase III, as well as GPC3- and CA9-directed drugs in clinical development, and multiple first-in-class preclinical assets.
This acquisition follows another significant deal in the RPT space since October, when Eli Lilly (NYSE: LLY) announced the purchase of Point Biopharma (NASDAQ: PNT) for $1.4 billion, according to the public data.- Flcube.com
