Daiichi Sankyo Acquires U3 Pharma AG

Daiichi Sankyo has recently entered into an agreement to acquire the privately held firm, U3 Pharma AG, a German biotechnology company focusing on research into antibodies for the treatment of cancer.

Daiichi Sankyo will purchase 100% of the stock and make a one-time payment of
150 million euros ($235 million) to acquire the company. Closure of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and customary closing conditions.

U3 Pharma, which is based in Martinsried, Germany, was founded by Professor Axel
Ullrich of the Max Planck Institute of Biochemistry, whose pioneering gene technology-based and oncology-focused research led to the development of the oncology blockbusters Herceptin and Sutent.