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Daiichi Sankyo Co., Ltd.
Drug Names(s): BMS-599626 IV
Description: AC480 is an intravenously-administered, small molecule kinase inhibitor that selectively inhibits the HER family of receptors, HER1, HER2, HER3 and HER4.
Deal Structure: In December of 2005, Ambit expanded an existing collaboration with Bristol-Myers Squibb (BMS). Ambit received an upfront payment, revenues, an equity investment for services performed and an exclusive license to product candidates from a BMS solid tumor-directed preclinical kinase inhibitor program.
In October of 2007, Ambit and BMS further expanded this collaboration under which Ambit will profile BMS's kinase-focused library in exchange for up-front cash and rights to certain preclinical and clinical compounds of BMS. Under the terms of the agreements, the Company received a $6.0 million upfront payment and received the worldwide product rights to AC480.
Ambit and Daiichi
In Setpember 2014, Daiichi Sankyo and Ambit Biosciences announced that they have entered into a definitive merger agreement under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit Biosciences for $15 per share in cash through a tender offer followed by a merger...See full deal structure in Biomedtracker
AC480 (IV) News
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