BMS to Acquire RayzeBio for ~$4.1B
Shots:
- BMS expects to acquire RayzeBio to enhance its oncology portfolio with the addition of RayzeBio’s actinium-based radiopharmaceutical platform to develop therapies for the treatment of solid tumors incl. GEP-NETs, SCLC & hepatocellular carcinoma
- As per the agreement, BMS will acquire all outstanding shares of RayzeBio common stock at $62.50/share in an all-cash transaction worth an equity value of ~$4.1B. Moreover, BMS will acquire all remaining shares of RayzeBio through a second-step merger after the tender offer's successful closure for the same price
- The transaction is expected to close by H1'24. RayzeBio’s portfolio includes RYZ101 (225Ac-DOTATATE), targeting SSTR2 & RYZ801, a peptide targeting glypican-3
Ref: BMS | Image: RayzeBio
Related News:- BMS Acquires Karuna Therapeutics for ~$14B
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Kritika is a content writer at PharmaShots. She is interested in covering recent innovations from the pharma & MedTech industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
