Bristol Myers completes acquisition of RayzeBio

Bristol Myers Squibb (BMY) announced that it has successfully completed its acquisition of RayzeBio (RYZB). With the completion of the acquisition, RayzeBio shares have ceased trading on the NASDAQ Global Market and RayzeBio is now a wholly owned subsidiary of Bristol Myers Squibb. Bristol Myers Squibb’s previously announced tender offer to acquire all of the outstanding shares of RayzeBio common stock for a purchase price of $62.50 per share in cash, or approximately $4.1B, expired at one minute after 11:59 p.m., Eastern Time on February 22. Approximately 53,052,499 shares of RayzeBio common stock were validly tendered, and not validly withdrawn from the tender offer, representing approximately 86% of RayzeBio’s issued and outstanding shares of common stock. In accordance with the terms of the tender offer, all shares that were validly tendered and not validly withdrawn have been accepted for payment and Bristol Myers Squibb expects to promptly pay for all such shares. “We are excited to complete this transaction, which adds radiopharmaceutical therapeutics, or ‘RPTs,’ one of the fastest-growing new modalities for treating patients with solid tumors. By strengthening and further diversifying our oncology pipeline beyond I-O, we will unlock exciting opportunities that support BMS’s growth in the back half of the decade and beyond. RayzeBio is a pioneer in the application of this novel modality, and we look forward to working with their talented team to accelerate their preclinical and clinical programs for the benefit of patients around the world,” said Chris Boerner, Ph.D., Chief Executive Officer, Bristol Myers Squibb.