Bristol Myers Squibb pays $350 million to expand its influence in radiopharmaceuticals
Bristol Myers Squibb's efforts to diversify cancer portfolios beyond immunotherapy, which allows radiopharmaceuticals to lead to its pipeline. Now, it is expanding its radiopharmaceutical range to expand prostate cancer through a licensing agreement for Philochem's early compound.
Rayzebio, a radiopharmaceutical subsidiary of BMS, is licenseing Philochem's Oncoacp3, a global right that is both a diagnostic and a targeted therapy for prostate cancer. The pharmaceutical giant will pay $350 million in global asset rights, under the terms of the deal announced late Tuesday.
Oncoacp3 is a small molecule designed to specifically bind acid phosphatase 3 (ACP3). This enzyme is abundant in prostate cancer cells, which is valuable for diagnosing diseases and as a biomarker for targeted therapies. For diagnostic applications, Oncoacp3 is paired with radioisotope 68 (68GA).
Philochem has entered the Phase 1 test of 68GA-ONCOACP3 as a radioactive example for diagnostic imaging of prostate cancer. The company said initial data from the first group of patients evaluated using the diagnostic candidate showed selective uptake of tumor cells, but no healthy cells. The molecule is also retained in the tumor for a long time.
Philochem said preclinical studies support the use of advancing Oncoacp3 to the first phase of testing, as prostate cancer therapy is underway. The therapy will pair small molecules with α225 (α-emitting radioisotope). Actinium-225 is also a radioactive particle used by Rayzebio, which BMS acquired last year for a $4.1 billion deal.
Rayzebio's most advanced program is RYZ101, a treatment currently being treated for gastrointestinal neuroendocrine tumors (GEP-NETS), a gastrointestinal cancer. The study specifically recruited patients whose disease was not treated with Lutathera, a FDA-approved Novartis radiopharmaceutical award in 2018. Lutathera uses the Beta particle Lutetium-177. Compared with beta particles, alpha particles bring higher energy and provide better tumor capabilities.
Rayzebio is exploring the potential of RYZ101 in other cancers. A separate phase 1 test for radiopharmaceuticals is the recruitment of HR-positive, HER2-negative breast cancer, and a wide range of small cell lung cancer patients.
In addition to the upfront payments paid by BMS for Philochem, the Switzerland-based Otelfingen company can also receive milestone payments of up to $1 billion in related milestone payments related to Oncoacp3 progress, and can earn more royalties if sales of Radiopharmaceutical or RPT and sales of RPT. The transaction is subject to regulatory approval and other customary closing conditions and is expected to be completed in the third quarter of this year.
“The collaboration with Philochem enhances our leadership in the rapidly growing radiopharmaceutical space, which is consistent with our strategy to propose top-notch RPT candidates,” Rayzebio President Ben Hickey said in a prepared statement. “Oncoacp3's initially encouraging safety provides differentiated entries for Bristol Myers Squibb and Rayzebio, our leadership in development based on Actinium RPT.”
Photo: Jeremy Moeller/Getty Images
