TOKYO and MAINZ, Germany — In a move that would expand its oncology pipeline, Astellas Pharma announced Friday its agreement to acquire Ganymed Pharmaceuticals for €422 million, or about $461 million.
Under the agreement, Astellas would acquire 100% of the equity in Ganymed and Ganymed shareholders will be able to receive up to €860 million in further contingent payments tied to the progress of Ganymed’s most advanced clinical program, IMAB362. Ganymed would become a wholly owned subsidiary of Astellas.