Philochem Licenses Prostate Cancer Agent OncoACP3 to RayzeBio in $1.35B Deal

Philochem AG, a subsidiary of the Philogen Group, has entered into a definitive licensing agreement with RayzeBio, a Bristol-Myers Squibb subsidiary, granting exclusive worldwide rights to develop, manufacture, and commercialize OncoACP3, a clinical-stage therapeutic and diagnostic agent targeting prostate cancer. Under the deal, Philochem will receive an upfront payment of $350 million and is eligible for up to $1 billion in development, regulatory, and commercial milestone payments, in addition to mid-single to low double-digit royalties on global net sales. OncoACP3, currently in a Phase I trial, shows promise with selective tumor uptake and minimal healthy tissue exposure. The transaction is expected to close by the third quarter of 2025, pending regulatory approvals. This agreement significantly advances RayzeBio's position in the radiopharmaceutical sector and aligns with Philochem's strategic growth objectives in oncology diagnostics and therapeutics. The deal's substantial financial terms highlight its potential impact on prostate cancer treatment innovation and investor interest.