Bristol Myers Squibb has opened its radiopharmaceutical manufacturing facility in Indianapolis, which played a major role in the company’s $4.1 billion acquisition of RayzeBio in December 2023.
The isotope and drug production plant is now fully operational, BMS said on Friday. CEO Chris Boerner helped cut the ribbon on the $160 million, 77,000-square foot complex, which is equipped to produce next-generation radiopharmaceutical cancer treatments based on the alpha-emitting isotope actinium-225 (Ac225).
As radiopharmaceuticals have picked up momentum in oncology, the radioisotopes underpinning them have been developed with improved stability in mind, allowing the therapeutic class to deliver targeted radiation to tumors with minimal side effects.
“Cancer has been at the forefront of what we do, and we believe this technology has an important role to play,” Boerner said during the event on Friday, as quoted by local ABC affiliate WRTV Indianapolis.
The facility—which RayzeBio president Ben Hickey dubbed “a first-of-its-kind model in the country,” combines isotope production and drug product manufacturing. It's currently producing doses for clinical use.
RayzeBio’s top radiopharmaceutical candidate, RYZ101, is in phase 3 testing for gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and early-stage development for small cell lung cancer. Last year, because of a shortage of actinium, RayzeBio temporarily halted enrolment in the phase 3 trial.
When BMS set out to acquire RayzeBio in late 2023, analysts at William Blair suggested that the deal “reemphasize[d] the premium value ascribed to pure-play radiopharmaceutical companies that have ownership over manufacturing.”
The Ac225 approach to nuclear medicines differs from approved radiotherapies such as Novartis’ Lutathera and Pluvicto, which use a beta-emitting isotope known as lutetium.
Ac225’s alpha particles are more potent, killing cancer cells and minimizing damage to surrounding healthy tissue. Another advantage of Ac225 radionuclides is that their potency half-life extends to roughly 10 days as opposed to six for the beta-emitting types, allowing for a larger window for delivery and administration.
In announcing the facility debut, BMS highlighted that the plant is part of its $40 billion investment pledge in the U.S. over the next five years, which the company unveiled in early May.