$160 million facility to manufacture cancer treatment opens in Indianapolis

INDIANAPOLIS — Bristol Myers Squibb is preparing to ship a new and possibly life-changing cancer treatment to patients across the world. The doses will be made and researched in Indianapolis.

Its subsidiary, RayzeBio, opened its $160 million manufacturing facility in Pike Township on Friday. The company will develop and manufacture radiopharmaceutical treatments, which uses isotopes and radiation to kill cancerous cells.

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"We're on the cusp of delivering hope and an extension of life to patients in the US and beyond," RayzeBio president Ben Hickey said. "In our phase one study, we've seen response rates in tumor types which had historically only had single-digit response rates now at 30-40%."

RayzeBio is now manufacturing doses in Indianapolis for clinical use. It has the capacity to create and ship tens of thousands of doses every year if radiopharmaceutical treatments are approved for general use.

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"Cancer has been at the forefront of what we do, and we believe this technology has an important role to play," said Bristol Myers Squibb CEO Chris Boerner.

Boerner said Indianapolis is the perfect location for RayzeBio's manufacturing hub.

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"Indianapolis is a leader in this area. It's a leader because there is an incredible talent pool here," Boerner said. "Folks in Indianapolis should feel proud to be on the cutting edge of science and hopefully on the cutting edge of transforming a lot of patients' lives."

Indiana is the top exporter of pharmaceutical products in the country, according to the Indiana Economic Development Corporation.