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Astellas will acquire Ganymed and its portfolio of ideal monoclonal antibody candidates.
On Oct. 28, 2016 Astellas Pharma announced that the company will acquire Ganymed, a biopharmaceutical company developing ideal monoclonal antibodies (IMABs). Under the terms of the agreement Astellas will pay EUR 422 million (approximately $462.98) to acquire 100% of the equity in Ganymed. Upon completion of the transaction, Ganymed would become a wholly owned subsidiary of Astellas. The closing of the transaction is subject to customary regulatory approvals, and is expected to be finalized in the next several weeks.
Ganymed is a privately-held biopharmaceutical company founded in 2001 and focuses on the development of a new class of cancer drugs. Ganymed has several oncology pipeline assets in pre-clinical and clinical stages including IMAB362. IMAB362, an antibody drug candidate, is currently in clinical trials for gastroesophageal cancer.
"Oncology is one of our focus therapeutic areas and key driver for our growth. The acquisition of Ganymed will enable Astellas to further expand our oncology presence by adding a late-stage antibody asset with the potential to establish a new pillar following XTANDI," commented Yoshihiko Hatanaka, President and CEO, Astellas. "We aim to deliver a potential new therapeutic option to cancer patients who currently have limited treatment options available to them."