RayzeBio
RayzeBio is a clinical-stage, Bristol Myers Squibb subsidiary developing Actinium-225 alpha-emitting radiopharmaceutical therapies for solid tumors. Its pipeline includes the Phase 3 lead RYZ101 plus next-generation SSTR2, GPC3, and ACP3 programs, supported by vertically integrated Indianapolis manufacturing and San Diego discovery operations.
- Company typePrivate
- Founded2020
- HeadquartersSan Diego, United States
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What RayzeBio does
RayzeBio is a clinical-stage biopharmaceutical company developing targeted radiopharmaceutical therapies (RPTs) for solid tumor oncology, founded in August 2020 in San Diego, California. The company is built around an Actinium-225 (Ac225) alpha-emitting isotope platform designed to deliver high-energy, short-range alpha particles that cause more double-stranded DNA breaks than conventional beta emitters, a mechanism intended to reduce treatment resistance. The pipeline includes the Phase 3 lead asset RYZ101 (225Ac-DOTATATE) in the ACTION-1 trial for gastroenteropancreatic neuroendocrine tumors (GEP-NETs) progressing after Lu177 therapy, the next-generation SSTR2 agent RYZ401 in Phase 1, the GPC3-targeting theranostic pair RYZ801/RYZ811 in Phase 1/1b for hepatocellular carcinoma, and the ACP3-targeting RYZ701/RYZ711 program for prostate cancer, including PSMA-negative populations. Discovery is anchored by a 28,000 sq ft San Diego research facility, and the company has built a vertically integrated 77,000 sq ft Indianapolis manufacturing facility that combines on-demand Ac225 isotope production with drug product manufacturing, with over $160 million invested and a stated 2-day distribution capability.
RayzeBio is a wholly-owned subsidiary of Bristol Myers Squibb following a $4.1 billion acquisition completed in February 2024, having previously raised approximately $418 million in venture funding across rounds in 2020, 2021, and 2022. The business model is pre-revenue: investigational therapies are currently distributed through clinical trial sites such as Mayo Clinic and approximately 20-30 other U.S. locations, and future commercial sales of approved RPTs will flow through the Indianapolis manufacturing footprint and authorized nuclear medicine treatment centers. As a BMS subsidiary, RayzeBio benefits from parent-company global oncology commercial infrastructure and participates in industry-wide initiatives such as the RLT Angels Association, co-founded in June 2025 with Novartis, GE HealthCare, the European Association of Nuclear Medicine, and the ICPO Foundation to scale radioligand therapy access to 1,000 RLT Centers and one million patients globally.
RayzeBio firmographics
Firmographics- Name
- RayzeBio
- Legal name
- RayzeBio, Inc.
- Website
- https://rayzebio.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- RayzeBio is a clinical-stage, Bristol Myers Squibb subsidiary developing Actinium-225 alpha-emitting radiopharmaceutical therapies for solid tumors. Its pipeline includes the Phase 3 lead RYZ101 plus next-generation SSTR2, GPC3, and ACP3 programs, supported by vertically integrated Indianapolis manufacturing and San Diego discovery operations.
- Ownership category
- akta.pro rank
RayzeBio industry classification
Industry- Product category
- Radiopharmaceutical Therapeutics
- NAICS
- Pharmaceutical and Medicine Manufacturing (3254), Biological Product (except Diagnostic) Manufacturing (325414), Irradiation Apparatus Manufacturing (334517)
- SIC
- Biological Products, (No Disgnostic Substances) (2836), In Vitro & In Vivo Diagnostic Substances (2835)
- akta.pro primary industry
- Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)
- akta.pro secondary industries
- Radiopharmacy Compounding & Dispensing (Hospital/Commercial) (HLAIAGAE), Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC), Radiopharmaceutical CDMO & Manufacturing (GMP Fill-Finish) (HLAIAGAF), Diagnostic Radiopharmaceuticals (SPECT/PET Tracers) (HLAIAGAA), Radiopharmaceutical & Nuclear Medicine Distributors (HLAIAJAI)
Keywords
Where RayzeBio is headquartered
LocationHeadquarters
- HQ city
- San Diego
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
RayzeBio business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Infrastructure, Personnel, Marketing or Sales, Operations
Revenue model
- Future commercial drug sales (post-approval): RayzeBio is currently clinical-stage and pre-revenue. Future revenue model will rely on commercial sales of approved Actinium-225-based radiopharmaceutical therapies targeting oncology indications, manufactured at the Indianapolis facility at scale of tens of thousands of doses annually.
- Acquisition value (one-time): RayzeBio was acquired by Bristol Myers Squibb for approximately $4.1 billion (deal closed February 2024 per multiple sources; press release of acquisition was December 2023), generating one-time transaction value rather than ongoing revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | Future commercial pricing not publicly disclosed |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
RayzeBio product offering
Product offeringCore offering
RayzeBio is a clinical-stage biopharmaceutical company developing targeted radiopharmaceutical therapies (RPTs) that deliver the alpha-emitting radioisotope Actinium-225 (Ac225) to solid tumors. Its pipeline includes the lead asset RYZ101 (225Ac-DOTATATE) for SSTR2-expressing tumors, next-generation SSTR2 agent RYZ401, the GPC3-targeting theranostic pair RYZ801/RYZ811 for hepatocellular carcinoma, and the ACP3-targeting theranostic pair RYZ701/RYZ711 for prostate cancer, with discovery and manufacturing vertically integrated across its San Diego research and Indianapolis production sites.
Product overview
RayzeBio is a vertically integrated, clinical-stage radiopharmaceutical therapeutics (RPT) company and a Bristol Myers Squibb subsidiary focused on solid tumor oncology. Its core platform is built around the Actinium-225 (Ac225) alpha-emitting radioisotope, used across multiple programs in a pipeline-plus-modules architecture: the lead asset RYZ101 (SSTR2-targeting 225Ac-DOTATATE) in Phase 3 ACTION-1 for GEP-NETs plus Phase 1b/2 expansion trials for extensive-stage SCLC and HR+/HER2- breast cancer; the next-generation SSTR2 agent RYZ401 (Phase 1); the GPC3-targeting theranostic pair RYZ801 (Ac225 therapeutic) / RYZ811 (Ga68 diagnostic) for hepatocellular carcinoma (Phase 1/1b); the ACP3-targeting theranostic pair RYZ701 (therapeutic) / RYZ711 (diagnostic) for prostate cancer; and pre-clinical programs in ccRCC and additional targets. Discovery is enabled by the San Diego 28,000 sq ft research facility, and commercial-scale supply is anchored by the Indianapolis 77,000 sq ft end-to-end manufacturing facility that combines on-site Ac225 isotope production with drug product manufacturing.
Differentiator
Problem solved
Functional benefit
Products and services
- RYZ101 (225Ac-DOTATATE) Investigational targeted radiopharmaceutical therapy (RPT) composed of DOTATATE bound to Actinium-225, a high-energy alpha-emitting radioisotope, targeting somatostatin receptor type 2 (SSTR2) in GEP-NETs, small cell lung cancer, and HR+/HER2- metastatic breast cancer.
- RYZ401 Next-generation SSTR2-targeting radiopharmaceutical therapy labeled with Actinium-225, designed to offer enhanced tumor retention and decreased kidney uptake versus first-generation SSTR2 agents, with the potential to eliminate the need for co-administration of amino acids.
- RYZ801 / RYZ811 (Theranostic Pair) RYZ801 is a proprietary peptide targeting glypican-3 (GPC3) for delivery of Ac225 to treat hepatocellular carcinoma (HCC); RYZ811 is a paired diagnostic imaging agent using the same peptide binder and chelator with Gallium-68 (Ga68).
- RYZ701 / RYZ711 (ACP3 Program) First-in-class radiopharmaceuticals targeting acid phosphatase 3 (ACP3) for treatment and diagnosis of prostate cancer; RYZ701 is the therapeutic agent and RYZ711 is the diagnostic, targeting ACP3 which is highly expressed in >95% of prostate cancers including PSMA-negative/low tumors, with minimal expression in healthy tissues such as salivary glands and kidneys.
Quantifiable outcome
- RYZ101 Phase 1b ACTION-1 trial enrolled 17 patients all previously treated with Lu177 with disease progression; no dose limiting toxicity observed during the 8-week DLT period in the first treatment cycle; no treatment-related serious adverse events or dose discontinuations.
- +4 more outcomes
Companies that use RayzeBio
Customer profileNamed customers1 record
Ideal customer profiles2 records
RayzeBio technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
RayzeBio partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and flagship.
- Mayo CliniccoreMayo Clinic is a key clinical trial site for RayzeBio's RYZ101 actinium-225 alpha-emitting radiopharmaceutical therapy. In August 2025 Mayo Clinic treated the first U.S. patient with RayzeBio's therapy for advanced breast cancer as part of an international Phase 1b/2 trial conducted at Mayo Clinic's three academic sites and approximately 20 other U.S. locations. Mayo Clinic also previously administered RayzeBio's GPC3-targeted radiopharmaceutical theranostic in a first-in-human HCC clinical trial.
- ICPO Foundation (RLT Angels Association co-founders)coreRayzeBio (as a Bristol Myers Squibb company) co-founded the RLT Angels Association on June 20, 2025, alongside the European Association of Nuclear Medicine (EANM), GE HealthCare, Novartis, and the ICPO Foundation. The initiative aims to improve access to radioligand imaging and therapies for up to one million patients globally, establish 1,000 RLT Centers worldwide, and develop open-source best practice resources, accreditation standards, and educational tools.
- European Association of Nuclear Medicine (EANM)coreCo-founded the RLT Angels Association on June 20, 2025, with RayzeBio, GE HealthCare, Novartis, and ICPO Foundation to expand global access to radiotheranostics, support 1,000 RLT Centers worldwide, and develop best practice resources and accreditation standards.
- GE HealthCarecoreCo-founded the RLT Angels Association on June 20, 2025, with RayzeBio, Novartis, EANM, and ICPO Foundation to grow access to radiotheranostics to one million patients globally and establish 1,000 RLT Centers worldwide. GE HealthCare is also a supplier of diagnostic imaging infrastructure complementary to RayzeBio's therapeutic pipeline.
- NovartiscoreCo-founded the RLT Angels Association on June 20, 2025, with RayzeBio, EANM, GE HealthCare, and ICPO Foundation. As the only company with currently FDA-approved radioligand therapies (Pluvicto and Lutathera), Novartis's participation signals industry-wide collaboration on access infrastructure for radiotheranostics.
- Bristol Myers SquibbflagshipBristol Myers Squibb acquired RayzeBio for approximately $4.1 billion (deal closed February 2024; acquisition announced December 2023) to enhance BMS's oncology portfolio with RayzeBio's actinium-based radiopharmaceutical therapeutics targeting solid tumors. RayzeBio now operates as a Bristol Myers Squibb subsidiary, leveraging BMS's commercial oncology infrastructure, R&D capabilities, and global manufacturing footprint while retaining its entrepreneurial biotech culture and Indianapolis manufacturing operations.
Scale indicators9 records
Recent moves7 records
Expansion highlights4 records
RayzeBio competitors and assessment
Company assessmentOthers
- GE HealthCare: GE HealthCare supplies diagnostic imaging infrastructure (PET/CT, SPECT) essential to radiopharmaceutical theranostics and is a co-founder of the RLT Angels Association with RayzeBio. Not a direct therapeutic competitor but a critical enabling partner and ecosystem participant.
- Cardinal Health: Cardinal Health operates a major radiopharmaceutical distribution network and is expanding Ac225 production capabilities at its Indianapolis facility to support RayzeBio and other alpha-RPT developers. Adjacent ecosystem participant rather than direct competitor, with strategic supply-side overlap.
- Bristol Myers Squibb: BMS acquired RayzeBio for $4.1B in February 2024, making it the parent company. BMS is also a major oncology player with its own radiopharmaceutical-adjacent portfolio (IO, ADCs) and provides RayzeBio with global commercial, R&D, and manufacturing infrastructure.
- ITM Isotope Technologies: ITM is a leading manufacturer of medical radioisotopes including Lu177 and Ac225, supplying radiopharmaceutical developers globally. While not a direct competitor to RayzeBio's therapeutics, ITM is a critical enabling supplier and potential partner in the same value chain, and competes with RayzeBio's vertically integrated Indianapolis isotope production.
Direct peers
- Telix Pharmaceuticals: Telix develops diagnostic and therapeutic radiopharmaceuticals, with FDA-approved Illuccix (Ga68-PSMA-11) for prostate cancer imaging and an emerging pipeline of alpha-emitting therapeutics. Directly competes with RayzeBio in both diagnostic imaging and the broader theranostic RPT space.
- Lantheus Holdings: Lantheus is a radiopharmaceutical-focused company with a portfolio of diagnostic and therapeutic radiopharmaceuticals, including PSMA-targeted imaging agents and a growing alpha-emitter program (PNT2002/Ac225-PSMA-617 partnership with Point). Directly competes with RayzeBio in the radiopharmaceutical oncology space, particularly in prostate cancer.
- POINT Biopharma (Eli Lilly subsidiary): POINT Biopharma develops radioligand therapies including PNT2002 (Lu177-PSMA-I&T) and an alpha-emitting pipeline, and was acquired by Eli Lilly for $1.4B in 2023. Direct peer to RayzeBio in next-generation radiopharmaceuticals targeting prostate cancer and other solid tumors.
Emerging players
- Fusion Pharmaceuticals: Fusion Pharmaceuticals developed a platform of targeted alpha therapies (TATs) using Ac225 and other alpha-emitting conjugates, with a lead program in solid tumors; acquired by AstraZeneca in 2024. Direct emerging competitor in the Ac225 alpha-RPT space RayzeBio pioneered.
Broad incumbents
- Novartis (Pluvicto / Lutathera): Novartis is the dominant incumbent in radioligand therapy, with FDA-approved Pluvicto (Lu177-PSMA-617) in prostate cancer and Lutathera (Lu177-DOTATATE) in neuroendocrine tumors. Direct competitor to RayzeBio in the same oncology indications (NETs, prostate) using a beta-emitting Lu177 platform rather than RayzeBio's alpha-emitting Ac225 platform.
- Bayer (Xofigo / Algeta heritage): Bayer commercializes Xofigo (Ra223 dichloride), an alpha-emitting radiopharmaceutical for castration-resistant prostate cancer with bone metastases, and has active radioligand programs. Broad incumbent in alpha-emitting RPT and a direct competitor to RayzeBio's prostate cancer programs (RYZ701/RYZ711).
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
RayzeBio social profiles
Digital presenceRayzeBio compliance and trust
Trust signalCompliance3 records
RayzeBio financial estimates
Financial estimateRevenue estimate
Valuation estimate
RayzeBio leadership team
Management profileNumber of profiles
Profiles12 records
RayzeBio funding detail
Funding detailFunding overview
Funding rounds4 records
Investors22 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RayzeBio M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RayzeBio
What does RayzeBio do?
RayzeBio is a clinical-stage biopharmaceutical company developing targeted radiopharmaceutical therapies (RPTs) that deliver the alpha-emitting radioisotope Actinium-225 (Ac225) to solid tumors. Its pipeline includes the lead asset RYZ101 (225Ac-DOTATATE) for SSTR2-expressing tumors, next-generation SSTR2 agent RYZ401, the GPC3-targeting theranostic pair RYZ801/RYZ811 for hepatocellular carcinoma, and the ACP3-targeting theranostic pair RYZ701/RYZ711 for prostate cancer, with discovery and manufacturing vertically integrated across its San Diego research and Indianapolis production sites.
Is RayzeBio a public or private company?
RayzeBio is a private company. It is classified as corporate owned and is currently acquired.
When was RayzeBio founded?
RayzeBio was founded in 2020. It employs 51 to 100 people.
Where is RayzeBio based?
RayzeBio is headquartered in San Diego, United States, in the North America region.
How does RayzeBio make money?
Two revenue lines are on record. Future commercial drug sales (post-approval) is the primary driver. The others are acquisition value (one-time).
Who are RayzeBio's main competitors?
Others on record are GE HealthCare, Cardinal Health, Bristol Myers Squibb and ITM Isotope Technologies. Direct peers are Telix Pharmaceuticals, Lantheus Holdings and POINT Biopharma (Eli Lilly subsidiary). Fusion Pharmaceuticals is listed as an emerging player. Broad incumbents are Novartis (Pluvicto / Lutathera) and Bayer (Xofigo / Algeta heritage).
Does RayzeBio have an API?
No public API is recorded for RayzeBio.
What industry is RayzeBio in?
RayzeBio's product category is Radiopharmaceutical Therapeutics. Its primary akta.pro industry code is HLAIAGAB, Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy), with a secondary code of HLAIAGAE, Radiopharmacy Compounding & Dispensing (Hospital/Commercial). Its NAICS code is 3254 and its SIC code is 2836.