Agensys Acquired By Astellas

Astellas Pharma, a Japanese biotechnology firm, said last night that it has agreed to acquire Santa Monica-based Agensys, in a deal worth $387M, plus up to $150M in earnout. Astellas said that its US subsidiary, Astellas US Holding, has signed a definitive agreement to acquire Agensys, which is focused on therapeutic antibody research and development for the treatment of cancer. Agensys was venture backed by Duquesne Capital Management, JAFCO Co., Innovis Investments, Nextech Venture, Bear Stearns Health Innoventures, Alta Partners, HBM BioVentures, Lombard Odier Darier Hentsch & Cie, H&Q Life Sciences Investments, and Orbimed Associates. Astellas was advised by Montgomery & Co., and Morrison & Foerster in the deal; Agensys was advised by J.P. Morgan Securities and Latham & Watkins.