Billion-Dollar Bet: A New Dawn in Prostate Cancer Warfare!
- Philochem AG licenses its groundbreaking prostate cancer agent, OncoACP3, to RayzeBio (a Bristol-Myers Squibb company) in a monumental deal potentially worth up to $1.35 billion plus royalties.
- OncoACP3, a clinical-stage radiopharmaceutical, precisely targets Acid Phosphatase 3 (ACP3), a protein abundant in prostate cancer, showing highly selective tumor uptake in early diagnostic trials1, 6.
- This strategic alliance aims to accelerate OncoACP3's development as a best-in-class diagnostic and therapeutic, offering a new weapon against a disease often resistant to current treatments4, 5.
OTELFINGEN, Switzerland, June 10, 2025 – In a seismic move poised to redefine the battle against prostate cancer, Philochem AG today announced it's licensing its revolutionary agent, OncoACP3, to RayzeBio, Inc., a Bristol-Myers Squibb (NYSE: BMY) company. This landmark agreement, potentially reaching $1.35 billion plus royalties, ignites fresh hope in the fight against a relentless disease7.
OncoACP3 is no ordinary compound. It’s a highly specialized small molecule ligand engineered with ultra-high affinity for Acid Phosphatase 3 (ACP3), a novel target conspicuously present in prostate cancer cells but scarce in healthy tissue1. Initial data from its Phase I diagnostic trial (NCT06840535) has been electrifying, demonstrating OncoACP3's remarkable ability to selectively target tumors with prolonged retention, while minimally impacting healthy organs6.
"We are delighted," stated Philochem, emphasizing OncoACP3's potential as a "breakthrough treatment." RayzeBio echoed this, calling the collaboration an enhancement to their "leadership in the rapidly advancing radiopharmaceuticals space," and OncoACP3 a "differentiated entry" into prostate cancer, building on their actinium-based RPT expertise. With IND-enabling activities for a therapeutic study using Ac-OncoACP3 already underway, the partners are committed to "making OncoACP3 therapies widely available to patients in need"7.
Under the terms, Philochem receives a $350 million upfront payment, with up to $1.0 billion in development, regulatory, and commercial milestones, plus mid-single to low double-digit royalties. The deal, expected to close in the third quarter of 2025 subject to regulatory approvals and other customary closing conditions, sees Centerview Partners UK LLP and Cooley LLP advising Philochem. This strategic powerhouse move by Philochem, a wholly-owned subsidiary of the Philogen Group (MIL:PHIL), underscores their mission to discover and develop innovative pharmaceuticals for diseases of high unmet medical need.
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