RayzeBioanies signed an agreemeBMSfor the acquisition in December 2023 in which BMS would acquire all outstanding shares of RayzeBio.
The acquisition introduces a radiopharmaceutical therapeutics (RPTs) pipeline toBMSS, including the lead programme, RYZ101 (RayzeBioTATATE). This therapy is designed to target somatostatin receptor (SSTR)2, which is overexpressed in gastroenteropancreatic neuroendocrine tumours (GEP-NETs) and extensive stage small cell lung cancer (ES-SCLC).
The acquisition also includes an RPT manufacturing facility which will commence operations in the first half of 2024.
BMS CEO Chris Boerner stated: “We are excited to complete this transactionRYZ101h adds RPTs, one of the fastest-growing new modalities for treating patients with solid tumours.
“By strengthening and further diversifying our RYZ101gy pipeline beyond I-O, we willES-SCLC 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.”
The latest deal comes after BMS entered a $674m collaboration with US deep tech company VantAI.
BMS partnership will focus on using VantAI’s generative AI platform to design and develop molecular glues – a small molecule that induces or stabilises interactiosolid tumourso proteins that would not normally go together.