OR WAIT 15 SECS
As Astellas Pharma winds down its Agensys research operations, the company sells the Santa Monica, CA, facility to Gilead.
Astellas Pharma announced on April 18, 2018 that it has sold certain Agensys research facilities in Santa Monica, CA, to Gilead’s Kite Pharma.
The transaction was completed on April 12, 2018. Additional financial information or further deal terms were disclosed.
The sale of the facility comes as Astellas winds down its research operations at Agensys, which it announced in July 2017.
Additional wind-down activities were completed in the first quarter of 2018 following the company's decision to refine its oncology strategy by expanding its investment in the research of new technologies and modalities. More specifically, the company is reducing its focus on antibody-drug conjugate (ADC) research, which was the core focus of work conducted at Agensys.
The company also reports that it will continue certain clinical trials and collaborations on some ADC programs that have been in progress at Agensys, including its collaboration with Seattle Genetics.