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Daiichi Sankyo Co., Ltd.

Drug Names(s): AC708

Description: AC708 is a potent small molecule which inhibits the colony-stimulating factor-1 receptor, or CSF1R, a receptor tyrosine kinase.

Deal Structure: 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 with a subsidiary of Daiichi Sankyo, or approximately $315 million on a fully diluted basis. In addition to the upfront cash payment, each Ambit Biosciences stockholder will receive one Contingent Value Right (CVR), entitling the holder to receive an additional cash payment of up to $4.50 for each share they own if certain commercialization related milestones are achieved. The total transaction is valued at up to $410 million on a fully diluted basis.

In November 2014, Daiichi Sankyo and Ambit Biosciences announced that, as of the expiration of the tender offer, a total of 15,674,238 shares of Ambit Biosciences common stock had been validly tendered and not...See full deal structure in Biomedtracker

AC708 News

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