Tuesday, March 1, 2011

Plexxikon Acquired For Up To $935M

Berkeley-based Plexxikon, a developer of drugs for the treatment of melanoma cancer with the oncogenic BRAF mutation, has been acquired by Daiichi Sankyo, in a deal worth up to $935M. The firms said that Japanese pharmaceutical firm Daiichi Sankyo will pay $805M upfront and up to $130M in earn out for venture backed Plexxikon. plexxikon was venture backed by Advanced Technology Ventures (ATV), Alta Partners, Astellas Venture Capital, CW Ventures, Daiwa SMBC Capital, GIMV, Kumho Asiana Group, Pappas Ventures, and Walden International.