Philochem AG, a wholly-owned subsidiary of the Philogen Group, has announced a definitive agreement with RayzeBio, a subsidiary of Bristol-Myers Squibb Company, to license the worldwide rights for OncoACP3. This novel radiopharmaceutical therapeutic and diagnostic agent targets prostate cancer and is valued at up to $1.35 billion, including a $350 million up-front payment, and up to $1 billion in development, regulatory, and commercial milestones. Additionally, Philochem will receive mid-single to low double-digit royalties on global net sales of both therapeutic and diagnostic agents of OncoACP3. This collaboration reinforces Philochem's commitment to advancing scientific innovation into clinical solutions, aiming to make OncoACP3 therapies accessible to patients in need.
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