Daiichi Sankyo to Acquire Ambit Biosciences

Daiichi Sankyo Co., Ltd. has entered a definitive merger agreement to acquire Ambit Biosciences in a transaction valued at as much as $410 million. Ambit is a biopharma company focused on the discovery and development of medicines to treat unmet medical needs in oncology, autoimmune and inflammatory diseases by inhibiting enzymes behind those diseases.

Ambit’s lead drug candidate, quizartinib, is currently in Phase III trials in patients with acute myeloid leukemia (AML) who express a genetic mutation in FLT3 and who are refractory to or relapsed after first-line treatment with or without hematopoietic stem cell transplantation (HSCT) consolidation. AML patients with the FLT3 mutation tend to have a poorer prognosis than those whose cancers are FLT3 negative. 
 
“Daiichi Sankyo is the ideal organization to take quizartinib to the next stage of development, and ultimately, to achieve our goal of making it available as quickly as possible to help as many AML patients as possible,” said Michael A. Martino, president and chief executive officer, Ambit Biosciences. “This attractive offer to shareholders, is a testament to the hard work and dedication of the Ambit team to our mission of developing innovative therapies for areas of high unmet medical need.”
 
“The acquisition of Ambit Biosciences further builds our presence in oncology to ensure we are delivering on our goal of providing world-class, innovative pharmaceuticals in core areas of unmet medical need,” said Daiichi Sankyo Co., Ltd. president and chief executive officer, Joji Nakayama. “Long-term success in oncology depends upon three pillars:  fostering development of our in-house molecules, exploring mutually beneficial partnerships and executing strategic purchases, such as Ambit Biosciences, which follows our acquisitions of U3 Pharma and Plexxikon.”