Ambit, Astellas in FLT3 inhibitor deal

Ambit Biosciences Corp. (San Diego, Calif.) partnered with Astellas Pharma Inc. (Tokyo:4503) to develop and commercialize FMS-like tyrosine kinase 3 ( FLT3; CD135) inhibitors to treat acute myelogenous leukemia (AML) and other undisclosed indications. The deal includes AC220, an FLT3 inhibitor in Phase II testing for relapsed or refractory AML, and undisclosed preclinical compounds. Ambit will receive $40 million up front and is eligible for $350 million in pre-commercialization milestones. The biotech also is eligible for undisclosed sales milestones, plus tiered double-digit royalties. ...