Philochem AG Announces the Licensing of Worldwide Rights to OncoACP3, a novel Radiopharmaceutical Therapeutic and Diagnostic Agent targeting Prostate Cancer, to RayzeBio, a Bristol-Myers Squibb Company, for a potential value of up to $1.35bn plus royalties
1. BMY's RayzeBio acquires rights to OncoACP3 for prostate cancer treatment. 2. Deal includes $350m upfront and up to $1bn in milestones. 3. OncoACP3 shows promising early trial results for targeted prostate cancer therapy. 4. Collaboration aims to enhance BMY's position in radiopharmaceutical market. 5. Transaction expected to close by Q3 2025, pending regulatory approvals.