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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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