Cancer-drug biotech Agensys sells to Astellas for $387M — but is it a pig in a poke?
Yet another biotech has succumbed to Big Pharma’s deep-pocketed blandishments. Agensys, a decade-old Santa Monica, Calif., biotech with an early-stage pipeline, just agreed to sell itself to Japan’s Astellas Pharma for $387 million in cash. The company’s shareholders can receive up to another $150 million in milestone payments.
Agensys, which called itself UroGenesys until 2001, is developing a range of antibody drugs against cancer. Oddly, though, the company hasn’t had much to say about its drug… Continue Reading