Daiichi Sankyo Acquires Ambit Biosciences, Quizartinib For AML

Daiichi Sankyo has acquired Ambit Biosciences in a definitive merger agreement. The move, announced in a press release, also transfers Ambit Bioscience’s quizartinib — currently in Phase 3 clinical trials for patients with acute myeloid leukemia (AML) — into Daiichi Sankyo’s oncology pipeline. Michael A. Martino, President and CEO of Ambit Biosciences, said, “Daiichi Sankyo is the ideal organization to take quizartinib to the next stage of development, and ultimately, to achieve our goal of making it available as quickly as possible to help as many AML patients as possible.”

Daiichi Sankyo and Ambit Biosciences Agreement

Ambit Biosciences is a publicly traded biopharmaceutical company, which Daiichi Sankyo intends to acquire through a tender offer and merger with one of Daiichi Sankyo’s subsidiaries, for a total of $315 million. Daiichi Sankyo will also pay Ambit shareholders cash payments for marketing milestones. Ambit provides value in its oncology, autoimmune, and inflammatory disease products, including its lead drug candidate, quizartinib.

Joji Nakayama, President and CEO of Daiichi Sankyo, said, "The acquisition of Ambit Biosciences further builds our presence in oncology. Long‐term success in oncology depends upon three pillars: fostering development of our in‐house molecules, exploring mutually beneficial partnerships, and executing strategic purchases, such as Ambit Biosciences, which follows our acquisitions of U3 Pharma and Plexxikon.”

Quizartinib

Quizartinib shows promise for patients who express a genetic mutation in FLT3 and who are refractory to or relapsed after first‐line treatment with or without hematopoietic stem cell transplantation (HSCT) consolidation. The once-daily oral treatment selectively inhibits FLT3, thereby turning off the power switch that allows leukemic cells to spread. Ambit is conducting investigations of quizartinib in AML patients with the FLT3-ITD mutation, in newly diagnosed AML patients in combination with chemotherapy, and as maintenance therapy following hematopoietic stem cell transplantation (HSCT) or a bone marrow transplant.

Daiichi Sankyo Activities

Daiichi Sankyo’s acquisition of Ambit is part of its overall strategy for long-term relevance in oncology. Recently, Daiichi Sankyo acquired U3 Pharma and Plexxikon. The acquisition of U3 Pharma, based in Martinsried, Germany, gives Daiichi Sankyo the rights to U3 Pharma’s pipeline of therapeutics for breast, lung, and colorectal cancers, including U3-1287 (co-developed with Amgen). The Plexxikon deal gives Daiichi Sankyo the rights to Plexxikon’s PLX4032 (vemurafenib), which targets the BRAF mutation in melanoma cancers and solid tumors.