Daiichi Sankyo will purchase 100% of the stock and make a one-time payment of E150 million 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’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 to inhibit oncogenic signaling and tumor proliferation.
Takashi Shoda, president and CEO of Daiichi Sankyo, said: “Our acquisition of U3 Pharma is an ideal strategic fit for our oncology portfolio. One of our goals for Daiichi Sankyo is to increase our presence in novel therapeutics in the oncology arena.”