BMS $4.1 Billion Merger of RayzeBio Includes Indy Production Facility

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PRINCETON, NJ — Bristol Myers Squibb announced a merger agreement on Tuesday that sees the Princeton based biopharmaceutical company acquiring RayzeBio for 4.1 Billion Dollars.

The sale notably includes the new drug production facility that RayzeBio is building in Indianapolis. That facility is in the final stages of construction with drug production set to begin in the first half of 2024. In a statement on the company’s web site RayzeBio says Indianapolis was chosen as the location for this manufacturing facility due to its central location in the United States. This allows for shipments to reach several major cities in the U.S. within two days of manufacture.

RayzeBio is a clinical-stage radiopharmaceutical therapeutics company. The company has focused on finding treatments for “solid tumors” including those found in small cell lung cancer. Their drug for small cell lung cancer, RYZ101, is currently in a phase 3 clinical trial. Phase 3 is the final one before a drug can be made available to the public.

The merger-acquisition is expected to be finalized in the first half of 2024. This comes two months after Bristol Myers Squibb announced their acquisition of Mirati Therapeutics, an oncology company based out of San Diego that is also targeting cancer with therapeutics.