Bristol Myers Squibb buys radiopharmaceuticals company

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Bristol Myers Squibb has completed its acquisition of RayzeBio for approximately $4.1 billion, adding radiopharmaceutical therapeutics (RPTs) to its pipeline.

Chris Boerner, Chief Executive Officer, Bristol Myers Squibb, said: “By strengthening and further diversifying our oncology pipeline beyond I-O, we will unlock exciting opportunities that support BMS’s growth in the back half of the decade and beyond. RayzeBio is a pioneer in the application of this novel modality, and we look forward to working with their talented team to accelerate their preclinical and clinical programmes for the benefit of patients around the world.”

This transaction brings a promising pipeline of RPTs to Bristol Myers Squibb, including RayzeBio’s lead programme RYZ101, which targets somatostatin receptor 2 (SSTR2), over-expressed in GEP-NETs and extensive stage small cell lung cancer (ES-SCLC).

A Phase III clinical trial is currently enrolling patients to evaluate RYZ101 in patients with SSTR-positive GEP-NETs who have previously been treated with lutetium-177 based somatostatin therapies.

RayzeBio previously reported the interim results of the Phase Ib portion of the ACTION-1 clinical trial, suggesting encouraging efficacy and tolerability.

A Phase Ib clinical trial is also currently enrolling patients to evaluate RYZ101 as a first-line treatment of ES-SCLC in combination with standard-of-care therapy.

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