Navigation Links
Daiichi Sankyo Co., Ltd. Announces Acquisition of Biotech Firm U3 Pharma AG
Date:5/21/2008

TOKYO, May 21 /PRNewswire/ -- Daiichi Sankyo Co., Ltd. announced today that it has entered into an agreement to acquire the privately held firm, U3 Pharma AG, a German biotechnology company focusing on research into antibodies for the treatment of cancer.

Daiichi Sankyo will purchase 100 percent of the stock and make a one-time payment of 150 million Euros ($235 million dollars) for the company. Closure of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and customary closing conditions.

U3 Pharma, which is based in Martinsried, Germany, was founded by Professor Axel Ullrich of the Max Planck Institute of Biochemistry, whose pioneering gene technology-based and oncology-focused research led to the development of the oncology blockbusters Herceptin(R) and Sutent(TM)*. U3 Pharma was established in 2001 and currently employs 27 people, the majority of whom work directly in research and development.

U3 Pharma's investors include Alta Partners, Atlas Venture, E. de Rothschild Investment Partners, Life Science Partners and Karsten Henco, as well as private individuals from the biotech and pharmaceutical industries.

U3 Pharma's pipeline of novel targeted therapeutics includes programs focusing on fully-human antibodies as potential therapies for breast, lung and colorectal cancers, among others. The company's lead product, which is being co-developed with Amgen, is U3-1287 (AMG 888), the first fully-human anti-HER3 monoclonal antibody (mAb) to inhibit oncogenic signaling and tumor proliferation. The companies intend to initiate clinical development of this compound this year.

Daiichi Sankyo's current novel therapeutics portfolio for worldwide commercialization includes CS-1008, an oncologic agent to combat malignant neoplasms, which is in Phase 2. For commercialization only in Japan, Daiichi Sankyo has the rights to market denosumab, or AMG 162, which is licensed from Amgen. In Japan, this agent is currently in preparation for Phase 3 for osteoporosis, and in Phase 3 for bone metastases in patients with advanced breast cancer. Daiichi Sankyo also has the exclusive rights in Japan to develop and market nimotuzumab, or DE 766, which is licensed from CIMYM Biosciences. This is an oncologic agent in Phase 1 to treat advanced solid malignancies.

"Our acquisition of U3 Pharma is an ideal strategic fit for our oncology portfolio," said Takashi Shoda, President and CEO of Daiichi Sankyo Co., Ltd. "We currently have three human monoclonal antibodies in development. Additionally, in March, 2008, we announced that we were expanding our joint research venture with another German company, MorphoSys AG, for its advanced Human Combinatorial Antibody Library and its phage display technologies. One of our goals for Daiichi Sankyo is to increase our presence in novel therapeutics in the oncology arena."

"This transaction with Daiichi Sankyo represents an important and exciting milestone for U3 Pharma," said founder Professor Axel Ullrich of the Max Planck Institute of Biochemistry. "We look forward to working with our Daiichi Sankyo colleagues to advance our discovery pipeline and to collaborate on translating that pipeline into novel cancer therapies."

About Daiichi Sankyo Company, Limited

Daiichi Sankyo Company, Limited, established in 2005 after the merger of two leading century-old Japanese pharmaceutical companies, is a global pharmaceutical innovator, continuously generating innovative drugs that enrich the quality of life for patients around the world. The company uses its cumulative knowledge and expertise in the fields of cardiovascular disease, cancer, metabolic disorders, and infection as a foundation for developing an abundant product lineup and R&D pipeline. For more information, visit http://www.daiichisankyo.com.

*Herceptin(R) is a trademark of Genentech, Inc.

Sutent(TM) is a trademark of Pfizer, Inc.

Except for the historical information contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including the difficulty of predicting FDA approvals, the acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, the timely development and launch of new products, and any risk factors listed from time to time in Daiichi Sankyo's Annual Report.

Inquiries in Japan

Motomi Takahashi

Dentsu Public Relations Inc.

Telephone: +81-3-5565-8245 (direct)

m-takahashi@dentsu-pr.co.jp

Inquiries in the U.S.

Rich Salem

Daiichi Sankyo, Inc.

Office: +1 973-695-8330

Cell: +1 973-563-1086

rsalem@dsus.com

Inquiries in Europe

Dr. Thomas Portz

Daiichi Sankyo Europe GmbH

Telephone: +49-172-8415904

thomas.portz@daiichi-sankyo.eu


'/>"/>
SOURCE Daiichi Sankyo Co., Ltd.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. DAIICHI SANKYO EUROPE is Applying for Approval of its New Combination Product of Olmesartan and Amlodipin
2. Daiichi Sankyo, Lilly Submit New Drug Application for Investigational Antiplatelet Drug, Prasugrel, with U.S. Food and Drug Administration
3. Forest Laboratories, Inc. and Daiichi Sankyo, Inc. Announce the Termination of the AZOR Co-Promotion Agreement
4. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
5. YM BIOSCIENCES ANNOUNCES COMPLIANCE WITH AIM RULE 26
6. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
7. BioLife Solutions Announces Exclusive CryoStor(TM) Supply Agreement With the New England Cryogenic Center, Inc.
8. Carrington Announces Nasdaq Communication; Prepares for Shares to Be Quoted on the OTC Bulletin Board and Pink Sheets
9. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
10. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
11. Advanced Life Sciences Announces Receipt of Nasdaq Staff Letter
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/10/2017)... research firm Parks Associates announced today that Tom Kerber ... Annual Meeting , October 11 in Scottsdale, Arizona . ... how smart safety and security products impact the competitive landscape. ... Parks Associates: Smart Home Devices: Main Purchase Driver ... "The residential security market has experienced continued growth, and the ...
(Date:10/10/2017)... PA (PRWEB) , ... October 10, 2017 , ... ... year’s recipients of 13 prestigious awards honoring scientists who have ... presented in a scheduled symposium during Pittcon 2018, the world’s leading conference and ...
(Date:10/9/2017)... ... October 09, 2017 , ... At its national board ... Stubbs, a professor in Harvard University’s Departments of Physics and Astronomy, has been selected ... member of the winning team for the 2015 Breakthrough Prize in Fundamental physics for ...
(Date:10/7/2017)... Phoenix, Arizona (PRWEB) , ... ... ... than 15 years’ experience providing advanced instruments and applications consulting for microscopy ... the in-house expertise in application consulting, Nanoscience Analytical offers a broad range ...
Breaking Biology Technology:
(Date:6/30/2017)... June 30, 2017 Today, American Trucking ... supplier of face and eye tracking software, became ... provider program. "Artificial intelligence and ... to monitor a driver,s attentiveness levels while on ... able to detect fatigue and prevent potential accidents, ...
(Date:5/16/2017)...   Bridge Patient Portal , an enterprise ... EMR Systems , an electronic medical record solutions ... established a partnership to build an interface between ... Centricity™ products, including Centricity Practice Solution (CPS), Centricity ... new integrations will allow healthcare delivery networks using ...
(Date:4/17/2017)... NXT-ID, Inc. (NASDAQ: NXTD ) ("NXT-ID" or the "Company"), ... Report on Form 10-K on Thursday April 13, 2017 with the ... The ... section of the Company,s website at http://www.nxt-id.com  under "SEC Filings," ... 2016 Year Highlights: Acquisition of ...
Breaking Biology News(10 mins):