Astellas to acquire Ganymed

TOKYO and MAINZ, Germany — In a move that would expand its oncology pipeline, Astellas Pharma announced Friday its agreement to acquire Ganymed Pharmaceuticals for €422 million, or about $461 million. 

 

Under the agreement, Astellas would acquire 100% of the equity in Ganymed and Ganymed shareholders will be able to receive up to €860 million in further contingent payments tied to the progress of Ganymed’s most advanced clinical program, IMAB362. Ganymed would become a wholly owned subsidiary of Astellas. 

 

"Oncology is one of our focus therapeutic areas and key drivers 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," Astellas president and CEO Yoshihiko Hatanaka said. "We aim to deliver a potential new therapeutic option to cancer patients who currently have limited treatment options available to them."

 

Currently, Ganymed has several oncology pipeline assets in pre-clinical and clinical stages of development, including IMAB362. 

 

“I am impressed by the competence, commitment and vision of Astellas. Recognizing their global resources, I am also confident that Astellas will be able to turn innovative science and promising clinical results into near-term value for patients,” Ganymed co-founder and CEO Dr. Özlem Türeci said.