Astellas Pharma Inc has bought U.S.-based Xyphos Biosciences Inc to expand its immuno-oncology business, a deal worth up to $665 million including potential development milestones and its second acquisition announced this month. Japan’s second biggest drugmaker by sales paid $120 million upfront for Xyphos and the rest will be milestone payments, the companies said in a statement. Astellas also said this month it had agreed to purchase Audentes Therapeutics Inc for about $3 billion to expand its push into genetic medicines. The deal is due to close in January. Immuno-oncology, which seeks to use the body’s own defense systems to fight cancer, is a primary focus for Astellas and under the deal, the Japanese firm will gain Xyphos’ cell therapy technology platform and its research team.
For further information, see Reuters (https://www.reuters.com/article/us-astellas-pharma-m-a-xyphos-idUSKBN1YV08H)
