San Diego-based Ambit Biosciences inked a deal Friday with Astellas Pharma Inc., where Astellas will pay the firm $40M in cash, and up to $350M in pre-commercialization milestones, in a joint partnership to develop and commercialize Ambit's FLT3 kinase inhibitors. According to Ambit and Astellas, the deal also includes post-approval milestones dependent on sales thresholds, as well as tiered, double-digit royalties on net sales of products based on Ambit's AC220 products. Ambit's compound is being applied to treating blood cancers in adults, specifically acute myeloid leukemia (AML).
Top NewsMonday, December 21, 2009
Ambit Deal With Astellas Pharma Worth As Much As $350M