Astellas to acquire Ganymed for €422m

Japanese pharmaceutical company Astellas and German biopharmaceutical company Ganymed have entered into an agreement under which Astellas will acquire Ganymed for €422 million ($462 million).

The transaction is expected to be finalised in several weeks’ time.

Yoshihiko Hatanaka, president and CEO of Astellas, said in a statement: “Oncology is one of our focus therapeutic areas and key drivers for our growth.”

Ganymed was founded in 2001 and focuses on the development of cancer drugs.

Hatanaka added: “The acquisition of Ganymed will enable Astellas to further expand our oncology presence by adding a late-stage antibody asset with the potential to establish a new pillar following Xtandi (enzalutamide).”

Özlem Türeci, CEO and co-founder of Ganymed, said: “I am impressed by the competence, commitment and vision of Astellas.

“Recognising their global resources, I am also confident that Astellas will be able to turn innovative science and promising clinical results into near-term value for patients.”