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Business
Astellas Pharma Will Buy Agensys
December 3, 2007
| A version of this story appeared in
Volume 85, Issue 49
Japan's Astellas Pharma will pay $387 million upfront to acquire Agensys of Santa Monica, Calif. Agensys' shareholders could also receive up to $150 million if certain business milestones are met. Ten-year-old Agensys focuses on therapeutic antibody R&D in the area of cancer. It has 30 targets identified in 14 cancer types, technology to generate fully human monoclonal antibodies, and production facilities that can supply preclinical and early clinical studies. Astellas plans to make the business a cornerstone of its oncology business and its expanding biologics efforts.
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