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.
Posted by Bruce Lehr March 2nd 2011.