BMS expands radiopharma pipeline via RayzeBio’s $1.3B prostate cancer drug deal
Bristol Myers Squibb (BMS), through its subsidiary RayzeBio, has entered a $1.35 billion licensing agreement with Swiss biotech firm Philochem centered around OncoACP3, a radiopharmaceutical therapy and diagnostic for prostate cancer.
The agreement includes a $350 million upfront payment to Philochem, with additional development, regulatory, and commercial milestones potentially bringing the total value to $1.35 billion. This collaboration enhances BMS’s position in the growing radiopharma space, complementing its 2023 acquisition of RayzeBio.
The deal highlights BMS’s commitment to expanding its oncology portfolio with innovative radiopharmaceuticals, aiming to offer new treatment options for patients with prostate cancer.