Date: 28-Dec-2019

Astellas ramps up M&A, buys U.S. biotech Xyphos for as much as $665 million

TOKYO: Astellas Pharma Inc has bought U.S.-based Xyphos Biosciences Inc to expand its immuno-oncology business, a deal worth up to $665 million including potential development milestones and its second acquisition announced this month. Japan's second biggest drugmaker by sales paid $120 million upfront for Xyphos and the rest will be milestone payments, the companies said in a statement. Astellas also said this month it had agreed to purchase Audentes Therapeutics Inc for about $3 billion to expand its push into genetic medicines. The deal is due to close in January.