December 27, 2019 / 3:44 AM / a month ago

Astellas Pharma buys Xyphos Biosciences, deal worth up to $665 mln

Dec 27 (Reuters) - 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 in as many months.

Japan’s second biggest drugmaker by sales paid $120 million upfront for Xyphos, with the rest 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.

Reporting by Rocky Swift; Editing by Edwina Gibbs

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