Bristol Myers Squibb: $350M Prostate Cancer Radiopharma Deal
Bristol Myers Squibb (BMS) makes a decisive move into prostate cancer treatment with a critically important radiopharmaceutical deal. the RayzeBio subsidiary will acquire global rights to Philochem’s OncoACP3, a compound in early-stage progress for both diagnosis and therapy. This agreement, valued at $350 million upfront potentially reaching over $1 billion, signals BMS’s strategic expansion beyond immunotherapies. OncoACP3 targets acid phosphatase 3, prevalent in prostate cancer cells, promising advancements in both diagnosing and treating this disease.News Directory 3 reports that this development places BMS in a competitive landscape. Eager to learn more about the future of prostate cancer treatment? Discover what’s next …
Bristol Myers Squibb Targets Prostate Cancer with Radiopharmaceutical Deal
Updated June 12, 2025
Bristol Myers Squibb (BMS) is broadening its oncology pipeline beyond immunotherapies, venturing into prostate cancer treatments through a licensing agreement between its RayzeBio subsidiary and Philochem. The deal focuses on radiopharmaceuticals, a growing area of interest for cancer therapy.
RayzeBio will acquire global rights to Philochem’s OncoACP3, a compound in early-stage development for both diagnostic and therapeutic applications in prostate cancer. According to the agreement, BMS will pay $350 million upfront for the rights to OncoACP3.
OncoACP3 is designed to selectively bind to acid phosphatase 3 (ACP3), an enzyme prevalent in prostate cancer cells. This characteristic makes it useful for both diagnosing the disease and as a target for therapy. In diagnostic applications, OncoACP3 is combined with the radioisotope gallium 68 (68Ga).
Philochem’s Phase 1 trials of 68Ga-OncoACP3 as a radiotracer for prostate cancer imaging have shown promising results. Initial data indicated selective uptake by tumor cells, with minimal impact on healthy cells, and prolonged retention within the tumors.
Preclinical studies are underway to support the advancement of OncoACP3 as a prostate cancer therapy, pairing the molecule with actinium-225, an alpha-emitting radioisotope. RayzeBio also utilizes actinium-225 in its lead program, RYZ101, currently in Phase 3 trials for gastroenteropancreatic neuroendocrine tumors (GEP-NETs).
RYZ101 targets GEP-NETs in patients who have not responded to Novartis’ Lutathera, a radiopharmaceutical approved by the FDA in 2018. While Lutathera uses lutetium-177, an beta particle, RYZ101 uses an alpha particle, which offers higher energy and potentially improved tumor-killing capabilities. This puts it in competition with sanofi and Eli Lilly, both of whom have also entered the radiopharmaceuticals market through acquisitions.
RayzeBio is also investigating RYZ101’s effectiveness against other cancers, with Phase 1 trials ongoing for HR-positive, HER2-negative breast cancer and extensive-stage small cell lung cancer.
Along with the upfront payment, Philochem could receive up to $1 billion in milestone payments, plus royalties on future sales of the radiopharmaceutical. The deal is expected to close in the third quarter of this year, pending regulatory approvals.
“This collaboration with philochem enhances our leadership in the rapidly advancing radiopharmaceuticals space, consistent with our strategy to bring forward best-in-class RPT candidates,” said RayzeBio President Ben Hickey. “OncoACP3, with its initial encouraging safety profile, provides a differentiated entry for Bristol Myers Squibb and RayzeBio into the prostate cancer arena, building on our leadership in actinium-based RPT development.”