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Bristol Myers Squibb Acquires RayzeBio

Adds radiopharmaceutical platform and pipeline programs targeting the treatment of solid tumors.

Bristol Myers Squibb entered a definitive merger agreement to acquire RayzeBio, Inc. for approximately $4.1 billion. 
 
RayzeBio is a clinical-stage radiopharmaceutical therapeutics (RPT) company with actinium-based RPTs and a pipeline of potentially first-in-class and best-in-class drug development programs. Current pipeline programs are targeting the treatment of solid tumors, including gastroenteropancreatic neuroendocrine tumors (GEP-NETs), small cell lung cancer, hepatocellular carcinoma and other cancers. 
 
RPTs enable a precision approach to patient treatment. RPTs bind to tumor cells and deliver targeted radiation to induce cancer cell death. Actinium-based RPTs offer potential advantages over currently available RPTs since the high potency and short firing range of the alpha-emitter create the possibility for stronger efficacy and more targeted delivery.
 
RayzeBio’s lead program RYZ101(225Ac-DOTATATE) targets somatostatin receptor 2 (SSTR2), which is over-expressed in GEP-NETs and extensive stage small cell lung cancer (ES-SCLC). A Phase 3 clinical trial is currently enrolling patients. RayzeBio previously reported the interim results of the Phase 1b portion of the ACTION-1 clinical trial, suggesting encouraging efficacy and tolerability. A Phase 1b clinical trial is evaluating RYZ101 as a first-line treatment of ES-SCLC in combination with standard-of-care therapy.
 
RYZ801, RayzeBio’s novel peptide targeting glypican-3 (GPC3) for delivery of actinium- based radioactivity for the treatment of hepatocellular carcinoma (HCC). RYZ801 is currently in IND-enabling studies.
 
The pipeline also includes an asset targeting CA9, which is expressed in renal cell cancer and is currently in IND-enabling studies, and multiple first-in-class preclinical assets to treat solid tumors.
 
RayzeBio is completing construction of a state-of-the-art in-house manufacturing facility in Indianapolis, IN, and GMP drug production is expected to begin in the first half of 2024.
 
“This transaction enhances our increasingly diversified oncology portfolio by bringing a differentiated platform and pipeline, and further strengthens our growth opportunities in the back half of the decade and beyond,” said Christopher Boerner, Ph.D., Chief Executive Officer of Bristol Myers Squibb. “Radiopharmaceutical therapeutics are already transforming cancer care, and RayzeBio is at the forefront of pioneering the application of this novel modality. We look forward to supporting and accelerating RayzeBio’s preclinical and clinical programs and advancing its highly innovative radiopharmaceutical platform.”

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