Japan-based drugs group Daiichi Sankyo is paying $805m in cash and a further $130m in performance fees for oncology treatment company Plexxikon, which is Astellas Venture Management's ninth exit.
Astellas Venture Management, the corporate venturing unit of Japan-based drugs company Astellas, has made the ninth exit with the sale of portfolio company Plexxikon to Daiichi Sankyo for up to $935m.
Japan-based drugs group Daiichi Sankyo is paying $805m in cash and a further $130m in performance fees for oncology treatment company Plexxikon.
Joji Nakayama, chief executive of Daiichi Sankyo, which has only one reference to corporate venturing by providing $60m to Kearney Venture Associates in 2006, said: "The acquisition…
