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Home Industry News Physics Bristol Myers Squibb Reveal Acquisition of RayzeBio for Over $4 Billion
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Bristol Myers Squibb Reveal Acquisition of RayzeBio for Over $4 Billion

2nd January 2024

Bristol Myers Squibb is set to acquire RayzeBio, a development-stage firm specializing in radiopharmaceutical therapeutics, in a deal valued at approximately $4.1 billion for all outstanding shares. 

RayzeBio possesses a portfolio featuring remedies for solid tumours, encompassing gastroenteropancreatic neuroendocrine tumours and small cell lung cancer, and more. 

The main program of the company, RYZ101, is currently being tested in a late-stage study to help individuals with SSTR-positive gastroenteropancreatic neuroendocrine tumours who have previously had lutetium-177 somatostatin therapies. 

Christoper Boerner, head executive of Bristol Myers Squibb, stated, “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.” 

Boerner went on to add, “Radiopharmaceutical therapeutics are already transforming cancer care, and RayzeBio is at the forefront of pioneering the application of this novel modality.” 

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