Switzerland-based Philochem AG, a wholly-owned subsidiary of the Philogen Group (BIT: PHIL), announced a licensing agreement with RayzeBio, Inc., a subsidiary of US major Bristol-Myers Squibb (NYSE: BMY). The deal grants RayzeBio exclusive global rights to develop, manufacture, and commercialize Philochem’s OncoACP3, a high-affinity small-molecule ligand for acidic phosphatase 3 (ACP3), targeting prostate cancer treatment and diagnosis.
Financial Terms
Under the agreement, Philochem will receive an upfront payment of USD 350 million and is eligible for development, regulatory, and commercial milestone payments totaling up to USD 1 billion. Additionally, Philochem will earn mid-single to low double-digit royalties based on global net sales.
Clinical Progress
OncoACP3 is currently under evaluation in a Phase I clinical study for prostate cancer. The deal is anticipated to close in the third quarter of 2025.-Fineline Info & Tech
