Bristol-Myers Expands in Cancer Care With $1.35B OncoACP3 Deal

Bristol-Myers Squibb Company (NYSE:BMY) is one of the 15 best stocks to invest in for an 18 year old. On June 10, Bristol-Myers Squibb Company (NYSE:BMY) stated that RayzeBio, a subsidiary, would offer Philochem AG up to $1.35 billion to acquire the global rights to develop and market OncoACP3, a treatment for clinical-stage prostate cancer.

In accordance with the agreement, Philochem will get $350 million up front and could get up to $1 billion in milestone payments for research, regulation, and commerce. Additionally, the company will get royalties on worldwide sales of OncoACP3’s therapeutic and diagnostic applications, which range from mid-single to low double-digit percentages.

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The transaction is an example of Bristol-Myers Squibb’s planned foray into radiopharmaceutical treatment of prostate cancer. A new target in prostate cancer, OncoACP3 is a small chemical ligand that targets Acid Phosphatase 3. The substance is currently under evaluation in a Phase I trial; preliminary diagnostic data indicates that it selectively uptakes tumors while absorbing very little of healthy tissue. Expected to close in the third quarter of 2025, the transaction is still pending regulatory approvals and standard closing conditions.

A multinational biopharmaceutical corporation, Bristol-Myers Squibb Company (NYSE:BMY) is engaged in product discovery, research, licensing, manufacturing, marketing, and distribution.

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