Daiichi Sankyo Co. has agreed to acquire U3 Pharma AG, a Munich-based oncology drug development company, for EUR 150 million ($235m) in cash. U3 Pharma has raised over $61 million in VC funding from firms like Alta Partners, Atlas Venture, E. de Rothschild Investment Partners and Life Science Partners and Bio*One Capital.
Daiichi Sankyo Co., Ltd. announced today that it has entered into an agreement to acquire the privately held firm, U3 Pharma AG, a German biotechnology company focusing on research into antibodies for the treatment of cancer. Daiichi Sankyo will purchase 100 percent of the stock and make a one-time payment of 150 million Euros ($235 million dollars) for the company. Closure of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and customary closing conditions.
U3 Pharma, which is based in