Bristol Myers Squibb will pay $4.1 billion for RayzeBio, the companies said Tuesday, buying into the fast-growing field of using targeted doses of radiation to treat cancer.
RayzeBio, which raised about $350 million in a September initial public offering, is working in radiopharmaceuticals, which pair the tumor-killing power of radiation with the precision of targeted cancer therapies. The company is currently running a pivotal trial of its most advanced drug, RYZ101, in neuroendocrine cancer and has a pipeline of treatments for kidney, liver, and other cancers.
advertisement
Bristol Myers will pay $62.50 in cash per share of RayzeBio, a roughly 115% premium to the company’s recent trading and more than triple the company’s IPO price.
Get unlimited access to award-winning journalism and exclusive events.
Subscribe Log In
Previous article：
Unmasking the 'centricity' illusion in clinical trials
Next article： Wildfire smoke exposes gaps in outdoor worker protections
Next article： Wildfire smoke exposes gaps in outdoor worker protections
