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Plexxikon Inc. to Join Daiichi Sankyo Group
Date:2/28/2011

PARSIPPANY, N.J. and TOKYO, Feb. 28, 2011 /PRNewswire/ -- Daiichi Sankyo Company, Limited (hereinafter Daiichi Sankyo; headquartered in Chuo Ward, Tokyo), today announced that it has concluded an agreement to acquire Plexxikon Inc., a privately held pharmaceutical company based in Berkeley, California with a late-stage oncology product, PLX4032, as well as a promising pipeline and technology platform.

"The acquisition of Plexxikon not only accelerates our entry into the oncology market but strengthens our pipeline and will enable us to achieve our mid- and long-term business objectives of providing world-class, innovative pharmaceuticals in core areas of unmet medical need," said Daiichi Sankyo CEO, Joji Nakayama. "We look forward to working with the esteemed scientists and management team at Plexxikon, who are leaders in the discovery and development of novel small molecule pharmaceuticals to treat human disease."

With the acquisition, Daiichi Sankyo obtains certain co-promotion rights in the United States for PLX4032, which is being jointly developed by Plexxikon and Roche. Interim results from a Phase III trial demonstrated that PLX4032 met co-primary endpoints of overall survival and progression-free survival among patients with previously untreated metastatic melanoma expressing the BRAF mutation.

The acquisition of Plexxikon is consistent with the Daiichi Sankyo commitment to address diverse unmet medical needs, including personalizing medicine to maximize patient benefits. PLX4032 is an elegant example of a targeted therapeutic designed to be administered to patients likely to respond to treatment on the basis of a companion diagnostic test that can detect the presence of a specific genetic mutation.

In addition, the Daiichi Sankyo R&D Division will draw upon the Plexxikon proprietary Scaffold-Based Drug Discovery™ Platform to develop promising new treatments. This unique, systematic, cost-effective platform uses str
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SOURCE Daiichi Sankyo, Co., Ltd.
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