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Daiichi Sankyo Co., Ltd.
Drug Names(s): PPM204, indeglitazar
Description: PLX204, a novel small molecule drug, modulates the function of PPAR alpha, gamma, and delta; it is a PPAR pan-agonist.
Deal Structure: In October 2004, Plexxikon and Wyeth announced the formation of a multi-product collaboration focused on the development of PLX204. Under the terms of the agreement, Plexxikon will receive payments of over $22 million, including an upfront license fee and multi-year research funding. Additionally, Plexxikon may earn further milestone payments totaling nearly $350 million related to the successful development and commercialization of potential products emerging from the collaboration. Plexxikon also will receive royalties on future product sales.
In January 2009, Pfizer and Wyeth announced that they entered into a definitive merger agreement under which Pfizer will acquire Wyeth in a cash-and-stock transaction currently valued at $50.19 per share, or a total of approximately $68 billion. In October 2009, Pfizer completed its acquisition of Wyeth.
In February 2011, Daiichi Sankyo announced that it has concluded an agreement to acquire Plexxikon for $805 million up-front, with...See full deal structure in Biomedtracker
Partners: Pfizer Inc.
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