Plexxikon says it has agreed to be purchased by Daiichi Sankyo. The reported price tag is $805 M upfront and another $130 M in potential milestones. Daiichi will acquire Plexxikon's drug candidates for the treatment of certain cancers - based on a personalized medicine approach. Plexxicon already has one such apparent success story in the making with its Roche-partnered melanoma therapy, PLX4032, that has shown exciting clinical results.
Plexxikon, Creator of Hot Melanoma Drug, Bought by Daiichi Sankyo for $805M Upfront.
Plexxikon's CEO Peter Hirth said that his company was proud that Daiichi Sankyo recognized the value of their robust pipeline of personalized medicine drugs and their discovery engine.
Posted by Bruce Lehr March 2nd 2011.
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