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In a strategic move, Bristol Myers Squibb has acquired radiopharmaceutical company RayzeBio for $4.1 billion, highlighting the growing interest in this innovative field of cancer treatment. 🔍 Key Takeaways - - RayzeBio, a leader in radiopharmaceutical drug development, has been developing RYZ101 for neuroendocrine tumors. - The deal reflects the potential of radiopharmaceuticals to effectively target tumors with minimal side effects. - Bristol Myers Squibb outbid other major pharma companies, showcasing its aggressive strategy in expanding its oncology portfolio. 📈 What This Means - This acquisition underscores the significant growth in the radiopharmaceutical sector and the commitment to advancing cancer treatment. #Radiopharmaceuticals #BristolMyersSquibb #HealthcareInnovation #DrugDevelopment

Concentra Bids to Acquire Rain Oncology, a Struggling Biotech with Promising Cancer Drugs Concentra Biosciences, under Tang Capital, is offering a lifeline to struggling biotech Rain Oncology after its failed Atea Pharmaceuticals acquisition. Rain faced challenges, including a 65% workforce reduction following the disappointment of its lead candidate in a phase 3 trial. Tang Capital's offer values each Rain share at $1.25 and includes a contingent value right (CVR). The deal's success may shape Rain's future, aligning with Tang Capital's commitment to the life sciences sector. The agreement is expected to be reached this month, with closing by year-end. The fate of Rain remains uncertain. If you want to stay informed about the latest developments in the pharmaceutical industry, visit Pharmtales. They provide up-to-date coverage of the Latest Pharma News. #pharma #pharmaceutical #pharmtales #latestnews #pharmanews #pharmaceuticalindustry #oncology #cancer #cancerdrugs #concentrabiosciences https://lnkd.in/dNwCjKiH

Nimbus Therapeutics Secures $210M for Small Molecule Pipeline Advancements and Pays Tribute to Late Founder Nimbus Therapeutics, with $600 million in financing, is advancing its cancer drug NDI 1150-101 targeting HPK1. The company maintains an unconventional approach, remaining privately held despite its successes. While challenges like the Inflation Reduction Act loom, Nimbus' diverse therapeutic portfolio helps manage risks. Their focus is on groundbreaking immunotherapy for solid tumors, facing competition from Pfizer. Nimbus aims to demonstrate the drug's effectiveness as a monotherapy, emphasizing integrity in their pursuit of innovative cancer therapies. Watch for upcoming data at a medical conference, as Nimbus continues its unique journey. To delve deeper into this biotech's journey and its commitment to groundbreaking therapies, you can explore more on Pharmtales, Your Source for the Latest Pharma News. #pharma #pharmaceutical #pharmtales #latestnews #pharmanews #pharmaceuticalindustry #nimbus #pharmaceuticalcompany https://lnkd.in/dAjWTKZu

🔬 Exciting News in Biopharma: Bristol Myers Squibb Strengthens and Diversifies Oncology Portfolio With Acquisition of Mirati Therapeutics 🔬 Bristol Myers Squibb (BMY), a leading biopharmaceutical company, has announced that it will acquire Mirati Therapeutic, Inc. (MRTX), a commercial-stage targeted #Oncology Company, for $58.00 per share in cash, for a total equity value of $4.8 billion. Mirati stockholders will also receive one non-tradeable Contingent Value Right (CVR) for each Mirati share held, potentially worth $12.00 per share in cash, representing an additional $1.0 billion of value opportunity. For More info: https://lnkd.in/e5xzk_we #Biopharma #Innovation #CancerResearch #BristolMyersSquibb #MiratiTherapeutics #Oncology #Healthcare #opportunity

We are thrilled to announce two recent licensing agreements for Allorion Therapeutics.   The company entered into an exclusive option and global license agreement with AstraZeneca (LSE/STO/Nasdaq: AZN) to develop and commercialize a novel epidermal growth factor receptor (EGFR) L858R mutated allosteric inhibitor, as a potential new treatment for advanced EGFR-mutant non-small cell lung cancer (NSCLC). Allorion is eligible to receive upfront and near-term payments of up to $40 million, and additional development and commercial milestone payments of over $500 million, as well as tiered royalties on net sales worldwide. Below is a link to the press release:   https://lnkd.in/eaKewe6y   The company also entered into another exclusive license agreement with Avenzo Therapeutics, Inc., a clinical-stage biotech company developing next generation oncology therapeutics, to develop and commercialize AVZO-021 (formerly ARTS-021), a potentially best-in-class cyclin-dependent kinase 2 (CDK2) selective inhibitor globally (excluding Greater China). As part of the agreement, Avenzo also receives an exclusive option for an additional preclinical program planned for IND submission in early 2025. Allorion will receive an upfront payment of $40 million and be eligible to receive additional payments based on achievement of certain development, regulatory and commercial milestones and tiered royalties on net sales by Avenzo. Potential payments for both programs may total more than $1 billion. Below is a link to the press release:   https://lnkd.in/eFGYNAFF   *This post is for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors that fully understand the risks of such an investment. Octagon Capital Advisors LP is an investment adviser registered with the United States Securities and Exchange Commission.

LAVA Therapeutics (NASDAQ: LVTX) Gammabody™ Platform Gains Momentum LAVA Therapeutics N.V. (NASDAQ: LVTX) shares soared 106% as the company announced that Janssen Biotech, Inc., a part of the Janssen Pharmaceutical Companies of Johnson & Johnson, chose a lead candidate aimed at an undisclosed tumor-associated antigen for further development towards clinical settings. GAMMABODY™ PLATFORM LAVA primarily focuses on revolutionizing cancer therapy by developing its […] The post LAVA Therapeutics (NASDAQ: LVTX) Gammabody™ Platform Gains Momentum first appeared on Micro Cap Daily. The post LAVA Therapeutics (NASDAQ: LVTX) Gammabody™ Platform Gains Momentum appeared first on Micro Cap Daily.

Novartis, a pharmaceutical company, agreed to acquire Mariana Oncology, a fully integrated biotechnology company pioneering a new era of radiopharmaceutical innovation to treat people with cancer, for $1.75bn. “Novartis is an established leader in the commercialization of radiopharmaceuticals with a world-class team and global reach. Together, we offer a compelling combination of capabilities. In the short time since founding the company, the team at Mariana Oncology has developed a leading radiopharmaceutical discovery platform and an innovative pipeline. Our strategy has centered on overcoming the unique challenges of end-to-end radiopharmaceutical R&D and ultimately, delivery of these drugs to the bedside. Both Mariana and Novartis are committed to transforming cancer care, and together we will be in a better position to do that,” Simon Read, Mariana Oncology Founder and CEO. Mariana Oncology led by Simon Read is advised by Centerview Partners, Goodwin, and ICR Westwicke (led by Christopher Brinzey). Novartis led by Shiva Malek. #MergersAcquisitionsDivestitures #Biotechnology #Pharmaceutical

AstraZeneca will acquire Fusion Pharmaceuticals Inc., a clinical-stage biopharmaceutical company developing next-generation radioconjugates (RCs). The $2.4B #acquisition marks a major step forward in #AstraZeneca delivering on its ambition to transform #cancer outcomes. RCs provide a more precise mechanism of cancer cell killing compared with traditional radiation therapy. Fusion’s lead drug is being developed for metastatic #prostatecancer and is currently in Phase 2. The deal is the third recent buyout of a radiopharmaceutical developer in recent months, following similar deals from Eli Lilly and Company and Bristol Myers Squibb. #oncology

Bristol Myers to Buy Mirati Therapeutics for $4.8 Billion Bristol-Myers Squibb has agreed to buy cancer drugmaker Mirati Therapeutics for $4.8 billion as the company seeks new revenue paths after one top-selling drug lost patent exclusivity and others face competition later this decade. The deal will bolster Bristol’s pipeline, helping reduce its reliance on its top selling blood thinner Eliquis and cancer blockbuster drug Opdivo, which are scheduled to face generic competition later this decade. Bristol was forced to slash its outlook this year after sales of blood cancer drug Revlimid, its third-largest revenue driver, withered in the face of generic competition. Mirati is in the process of rolling out its first product to patients, a lung-cancer drug called Krazati. The transaction was unanimously approved by both the Bristol Myers Squibb and the Mirati boards of directors. https://lnkd.in/ghSc53Sy #aspenalert #biotech #bioprocess

Caris Life Sciences, a leading #AI-powered #precisionmedicine company, and COTA, an #oncology data and analytics provider, have joined forces to combine their multi-modal data offerings. The collaboration aims to drive advancements in biopharmaceutical #drugdevelopment and improve #patientcare in oncology. Read at The Evidence Base® #rwd #realworlddata #pharma #biopharma #healthdata #artificialintelligence