Daiichi Sankyo enters merger agreement to acquire Plexxikon
February 03, 2016
"Since 2001, Plexxikon's novel drug discovery and development approach, along with our unique business model, has led to the development of a portfolio of well-differentiated product candidates spanning multiple therapeutic indications," said K. Peter Hirth, Ph.D., chief executive officer of Plexxikon. "We are particularly proud of the advancement of PLX4032 as a truly personalized medicine combined with a companion diagnostic, and our near-term opportunity for commercialization. We are pleased that Daiichi Sankyo recognizes the value not only of the commercial opportunity of PLX4032, but also of Plexxikon's robust pipeline and discovery engine. Together, now with Daiichi Sankyo, we hope to leverage Plexxikon's accelerated discovery and development capabilities in a unique but supportive structure."
In addition to PLX4032, Plexxikon has a pipeline of additional products in development and pre-development, including multiple agents to treat cancer. PLX3397 is an oral, selective kinase inhibitor co-targeting Fms, Kit and Flt3-ITD, and is currently in the late stages of a Phase 1 dose escalation trial. The company plans to initiate several Phase 2 trials with PLX3397 in specific cancers this year, including Hodgkin lymphoma, AML, glioblastoma and metastatic breast cancer. Additionally, the company has just initiated a Phase 1 study for PLX5622, an oral agent directed to the treatment of rheumatoid arthritis.
Daiichi Sankyo Group, based in Tokyo, is dedicated to the creation and supply of innovative pharmaceutical products to address the diversified, unmet medical needs of patients in both mature and emerging markets.