On June 10, 2025, Philochem AG, a wholly owned subsidiary of Philogen Group (MIL:PHIL), announced a definitive agreement with RayzeBio, a Bristol Myers Squibb (BMS) company. Under the agreement, RayzeBio obtains exclusive worldwide rights to develop, manufacture, and commercialize OncoACP3, a clinical-stage therapeutic and diagnostic radiopharmaceutical targeting prostate cancer.

Key terms include:

● $350 million upfront payment

● Up to $1.0 billion in development, regulatory, and commercial milestones

● Mid-single to low double-digit royalties on global net sales

The transaction is expected to close in Q3 2025, subject to regulatory approvals.

OncoACP3 is a small-molecule ligand that binds with high affinity and specificity to acid phosphatase 3 (ACP3), a newly identified tumor biomarker highly expressed in prostate cancer but not in normal tissues. The compound is currently in a Phase I trial (NCT06840535), with early imaging data showing high tumor uptake, long tumor retention, and minimal healthy tissue accumulation.

Official source: GlobeNewswire press release