INDIANAPOLIS — RayzeBio, a Bristol Myers Squibb company, plans to invest more than $173 million in its central Indiana operations and build a new facility in Whitestown.
The company announced plans to establish an approximately 450,000-square-foot facility at the Anson Industrial Park in Boone County. Construction is expected to begin this year.
RayzeBio also plans to create up to 100 new jobs at its Indianapolis and Whitestown locations by the end of 2029. The company said the advanced manufacturing positions will have average annual wages of more than $130,000.
The Whitestown facility will manufacture radiopharmaceutical therapies, which use radioisotopes to deliver radiation to cancer cells while limiting exposure to surrounding healthy tissue.
The new facility will complement RayzeBio’s existing 77,000-square-foot radiopharmaceutical supply and manufacturing operation on the northeast side of Indianapolis. That facility supports clinical and commercial production for the United States and international markets.
Gov. Mike Braun said the expansion is part of the state’s plans to invest $1 billion in Indiana’s life sciences sector and create 100,000 jobs over the next 10 years.
“RayzeBio’s expansion and planned job creation will contribute to this growth, advancing life-changing solutions used across the world while creating even more high-wage career opportunities that allow Hoosiers to thrive,” said Braun.
RayzeBio President Ben Hickey said the Indiana investment will expand the company’s manufacturing capacity and support its work developing radiopharmaceutical therapies.
“We’re proud to grow our presence in Indiana and contribute to the state’s emergence as a leading hub for life sciences manufacturing,” said Hickey.
RayzeBio was founded in 2020 and acquired by Bristol Myers Squibb in 2024. The company is developing actinium-based radiopharmaceutical therapies and other investigational treatments for several types of solid tumors, including gastroenteropancreatic neuroendocrine tumors, liver cancer and prostate cancer.
