Monday, September 29, 2014

Ambit Biosciences Acquired By Daiichi Sankyo For $410M

San Diego-based biotech Ambit Biosciences is being acquired by Japanese biotech developer Daiichi Sankyo COmpany, Ltd., in a deal worth approximately $410M the two said this morning. According to the two Daiichi Sankyo has agreed to pay $15 per share in cash for Ambit, plus up to an additional $4.50 per share depending on commercialization milestones. Ambit Biosciences is developing biopharmaceuticals in the areas of oncology, autoimmune and inflammatory diseases; the firm's lead drug is aimed at treating acute myeloid leukemia (AML).

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