Philochem AG Announces the Licensing of Worldwide Rights to OncoACP3, a novel Radiopharmaceutical Therapeutic and Diagnostic Agent targeting Prostate Cancer, to RayzeBio, a Bristol-Myers Squibb Company, for a potential value of up to $1.35bn plus royalties

Core Insights - Philochem AG has entered into a definitive agreement with RayzeBio, granting exclusive worldwide rights to develop, manufacture, and commercialize OncoACP3, a therapeutic and diagnostic agent targeting prostate cancer [1][3] - The agreement includes a $350 million up-front payment and potential additional payments of up to $1.0 billion based on development, regulatory, and commercial milestones, along with mid-single to low double-digit royalties on global net sales [1][3] Company Overview - Philogen Group is a biotechnology company focused on developing pharmaceutical products for highly lethal diseases, utilizing proprietary technologies and a strong portfolio of patents [5] - The company aims to address high unmet medical needs, primarily in oncology, but also has potential applications in chronic inflammatory diseases [5] Product Details - OncoACP3 is a small molecule ligand with high affinity for Acid Phosphatase 3 (ACP3), currently undergoing evaluation in a Phase I trial, showing promising initial data with selective tumor uptake and minimal healthy tissue uptake [2] - IND-enabling activities are ongoing to support a Phase I therapeutic study with Ac-OncoACP3 [2] Strategic Importance - The collaboration with RayzeBio enhances Philochem's position in the radiopharmaceuticals space, aiming to deliver innovative treatments for prostate cancer [3] - This partnership reflects a shared commitment to translating scientific innovation into clinical solutions, potentially making OncoACP3 therapies widely available [3] Transaction Details - The closing of the transaction is subject to regulatory approvals and is expected to finalize in the third quarter of 2025 [4] - Philochem is advised by Centerview Partners UK LLP and Cooley LLP for this transaction [4]