Daiichi Sankyo and Ambit Biosciences announced the company acquisition of the Ambit in a deal valued up to $410 million.Daiichi will acquire all outstanding Ambit stock for $15 per share, about $315 million, and merge with a Daiichi subsidiary.
Ambit stockholders will potentially receive additional cash payments if sales milestones are met, which would bring the entire deal to $410 million.
Ambit Biosciences focuses on unmet medical needs in oncology, autoimmune and inflammatory diseases by inhibiting kinases that are significant drivers for those illnesses.
The company’s pipeline includes three programs: quirzartinib for acute myeloid leukemia (AML); AC410, a small molecule inhibitor of JAK2, with possible utility for autoimmune and inflammatory diseases; and AC708, a small molecule compound that inhibits CSF1R, a receptor tyrosine kinase.
Quirzartinib was entered into a phase 3 clinical trial in April 2014.
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