Home/Markets/‘Bristol Myers Squibb to Acquire RayzeBio for $4.1 Billion, Expanding Oncology Portfolio\n\nBristol Myers Squibb (NYSE:BMY) has announced its acquisition of RayzeBio, incorporated (NASDAQ:RYZB) for $62.50 per share in cash, totaling an equity value of approximately $4.1 billion. The merger agreement was unanimously approved by both companies’ Boards of Directors.\n\nRayzeBio is a clinical-stage radiopharmaceutical therapeutics company with a leading position in actinium-based RPTs and a pipeline of potentially first-in-class and best-in-class drug development programs. These programs target the treatment of solid tumors, including gastroenteropancreatic neuroendocrine tumors (GEP-NETs), small cell lung cancer, hepatocellular carcinoma, and other cancers. The acquisition of RayzeBio will enhance Bristol Myers Squibb’s already diverse oncology portfolio and strengthen its growth opportunities in the future.\n\nRadiopharmaceutical therapeutics (RPTs) are a novel modality in cancer treatment, delivering targeted radiation to cancer cells. RayzeBio’s actinium-based RPTs offer potential advantages over currently available RPTs, with the possibility for stronger efficacy and more targeted delivery due to the high potency and short firing range of the alpha-emitter.\n\n”This transaction brings a differentiated platform and pipeline to our oncology portfolio, further strengthening our growth opportunities in the future,” said Christopher Boerner, Ph.D., Chief Executive Officer of Bristol Myers Squibb. “RayzeBio is at the forefront of pioneering the application of radiopharmaceutical therapeutics, and we look forward to supporting and accelerating their preclinical and clinical programs.”\n\nSamit Hirawat, M.D., Executive Vice President, Chief Medical Officer, Drug Development of Bristol Myers Squibb, added, “RayzeBio\’s platform has the potential to be a significant IND engine, generating several therapeutic candidates in the future. We are excited to leverage our global drug development capabilities and infrastructure to advance this highly innovative radiopharmaceutical platform.”\n\nKen Song, M.D., President and CEO of RayzeBio, expressed his excitement about the acquisition, stating, “Radiopharmaceutical therapeutics are positioned to be an important next wave of innovation in oncology therapy. Bristol Myers Squibb’s well-established presence in oncology and deep expertise in developing, commercializing, and manufacturing treatments on a global scale makes it the ideal partner for RayzeBio at this important moment in our evolution.”\n\nRayzeBio’s portfolio includes its lead program, RYZ101(225Ac-DOTATATE), which targets somatostatin receptor 2 (SSTR2) and is currently in Phase 3 development for the treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and in early-stage development for the treatment of small cell lung cancer (SCLC). The company has also reported encouraging interim results from a Phase 1b clinical trial for RYZ101 in patients with SSTR-positive GEP-NETs who have previously been treated with lutetium-177 based somatostatin therapies. A Phase 1b clinical trial is also currently enrolling patients to evaluate RYZ101 as a first-line treatment for extensive stage small cell lung cancer (ES-SCLC).’

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‘Bristol Myers Squibb to Acquire RayzeBio for $4.1 Billion, Expanding Oncology Portfolio\n\nBristol Myers Squibb (NYSE:BMY) has announced its acquisition of RayzeBio, incorporated (NASDAQ:RYZB) for $62.50 per share in cash, totaling an equity value of approximately $4.1 billion. The merger agreement was unanimously approved by both companies’ Boards of Directors.\n\nRayzeBio is a clinical-stage radiopharmaceutical therapeutics company with a leading position in actinium-based RPTs and a pipeline of potentially first-in-class and best-in-class drug development programs. These programs target the treatment of solid tumors, including gastroenteropancreatic neuroendocrine tumors (GEP-NETs), small cell lung cancer, hepatocellular carcinoma, and other cancers. The acquisition of RayzeBio will enhance Bristol Myers Squibb’s already diverse oncology portfolio and strengthen its growth opportunities in the future.\n\nRadiopharmaceutical therapeutics (RPTs) are a novel modality in cancer treatment, delivering targeted radiation to cancer cells. RayzeBio’s actinium-based RPTs offer potential advantages over currently available RPTs, with the possibility for stronger efficacy and more targeted delivery due to the high potency and short firing range of the alpha-emitter.\n\n”This transaction brings a differentiated platform and pipeline to our oncology portfolio, further strengthening our growth opportunities in the future,” said Christopher Boerner, Ph.D., Chief Executive Officer of Bristol Myers Squibb. “RayzeBio is at the forefront of pioneering the application of radiopharmaceutical therapeutics, and we look forward to supporting and accelerating their preclinical and clinical programs.”\n\nSamit Hirawat, M.D., Executive Vice President, Chief Medical Officer, Drug Development of Bristol Myers Squibb, added, “RayzeBio\’s platform has the potential to be a significant IND engine, generating several therapeutic candidates in the future. We are excited to leverage our global drug development capabilities and infrastructure to advance this highly innovative radiopharmaceutical platform.”\n\nKen Song, M.D., President and CEO of RayzeBio, expressed his excitement about the acquisition, stating, “Radiopharmaceutical therapeutics are positioned to be an important next wave of innovation in oncology therapy. Bristol Myers Squibb’s well-established presence in oncology and deep expertise in developing, commercializing, and manufacturing treatments on a global scale makes it the ideal partner for RayzeBio at this important moment in our evolution.”\n\nRayzeBio’s portfolio includes its lead program, RYZ101(225Ac-DOTATATE), which targets somatostatin receptor 2 (SSTR2) and is currently in Phase 3 development for the treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and in early-stage development for the treatment of small cell lung cancer (SCLC). The company has also reported encouraging interim results from a Phase 1b clinical trial for RYZ101 in patients with SSTR-positive GEP-NETs who have previously been treated with lutetium-177 based somatostatin therapies. A Phase 1b clinical trial is also currently enrolling patients to evaluate RYZ101 as a first-line treatment for extensive stage small cell lung cancer (ES-SCLC).’

‘Bristol Myers Squibb to Acquire RayzeBio for $4.1 Billion, Expanding Oncology Portfolio\n\nBristol Myers Squibb (NYSE:BMY) has announced its acquisition of RayzeBio, incorporated (NASDAQ:RYZB) for $62.50 per share in cash, totaling an equity value of approximately $4.1 billion. The merger agreement was unanimously approved by both companies’ Boards of Directors.\n\nRayzeBio is a clinical-stage radiopharmaceutical therapeutics company with a leading position in actinium-based RPTs and a pipeline of potentially first-in-class and best-in-class drug development programs. These programs target the treatment of solid tumors, including gastroenteropancreatic neuroendocrine tumors (GEP-NETs), small cell lung cancer, hepatocellular carcinoma, and other cancers. The acquisition of RayzeBio will enhance Bristol Myers Squibb’s already diverse oncology portfolio and strengthen its growth opportunities in the future.\n\nRadiopharmaceutical therapeutics (RPTs) are a novel modality in cancer treatment, delivering targeted radiation to cancer cells. RayzeBio’s actinium-based RPTs offer potential advantages over currently available RPTs, with the possibility for stronger efficacy and more targeted delivery due to the high potency and short firing range of the alpha-emitter.\n\n”This transaction brings a differentiated platform and pipeline to our oncology portfolio, further strengthening our growth opportunities in the future,” said Christopher Boerner, Ph.D., Chief Executive Officer of Bristol Myers Squibb. “RayzeBio is at the forefront of pioneering the application of radiopharmaceutical therapeutics, and we look forward to supporting and accelerating their preclinical and clinical programs.”\n\nSamit Hirawat, M.D., Executive Vice President, Chief Medical Officer, Drug Development of Bristol Myers Squibb, added, “RayzeBio\’s platform has the potential to be a significant IND engine, generating several therapeutic candidates in the future. We are excited to leverage our global drug development capabilities and infrastructure to advance this highly innovative radiopharmaceutical platform.”\n\nKen Song, M.D., President and CEO of RayzeBio, expressed his excitement about the acquisition, stating, “Radiopharmaceutical therapeutics are positioned to be an important next wave of innovation in oncology therapy. Bristol Myers Squibb’s well-established presence in oncology and deep expertise in developing, commercializing, and manufacturing treatments on a global scale makes it the ideal partner for RayzeBio at this important moment in our evolution.”\n\nRayzeBio’s portfolio includes its lead program, RYZ101(225Ac-DOTATATE), which targets somatostatin receptor 2 (SSTR2) and is currently in Phase 3 development for the treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and in early-stage development for the treatment of small cell lung cancer (SCLC). The company has also reported encouraging interim results from a Phase 1b clinical trial for RYZ101 in patients with SSTR-positive GEP-NETs who have previously been treated with lutetium-177 based somatostatin therapies. A Phase 1b clinical trial is also currently enrolling patients to evaluate RYZ101 as a first-line treatment for extensive stage small cell lung cancer (ES-SCLC).’$RYZB2023-12-27T17:50:50.307Z

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