Sankyo Buying U3 Pharma

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.

 

 

PRESS RELEASE

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 Martinsried, Germany, was founded by Professor Axel Ullrich of the Max Planck Institute of Biochemistry, whose pioneering gene technologybased and oncology-focused research led to the development of the oncology blockbusters Herceptin