Astellas Pharma Inc (4503.T) has bought U.S.-based Xyphos Biosciences Inc to expand its immuno-oncology business, a deal worth up to $665 million including potential development milestones and its second acquisition announced this month. Japan’s second biggest drugmaker by sales paid $120 million upfront for Xyphos and the rest will be milestone payments, the companies said in a statement. Astellas also said this month it had agreed to purchase Audentes Therapeutics Inc for about $3 billion to expand its push into genetic medicines. The deal is due to close in January.
Read the full article: Astellas Ramps up M&A, Buys U.S. Biotech Xyphos for as Much as $665M //
Source: https://www.reuters.com/article/us-astellas-pharma-m-a-xyphos/astellas-ramps-up-ma-buys-u-s-biotech-xyphos-for-as-much-as-665-million-idUSKBN1YV08H