Bris­tol My­ers to buy Rayze­Bio for $4.1B as phar­ma piles in­to bur­geon­ing ra­dio­phar­ma field

Bris­tol My­ers Squibb plans to buy ra­dio­phar­ma­ceu­ti­cals biotech Rayze­Bio for about $4.1 bil­lion, it an­nounced Tues­day, hot on the heels of an­nounc­ing a $14 bil­lion deal to pur­chase neu­ro­science drug­mak­er Karuna Ther­a­peu­tics the week pri­or.

The deal comes as ra­dio­phar­ma­ceu­ti­cals have seen a burst in in­ter­est. Eli Lil­ly in Oc­to­ber an­nounced a deal to buy Point Bio­phar­ma for $1.4 bil­lion, en­ter­ing a com­pe­ti­tion with No­var­tis in prostate can­cer. The goal of the ther­a­pies is to de­liv­er ra­di­a­tion in a more pre­cise fash­ion by at­tach­ing ra­dioac­tive par­ti­cles to lig­ands that act as hom­ing bea­cons to tu­mor cells.

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