Astex-Supergen merger set to create cancer leader


Cambridge(UK)/ Dublin (USA – British cancer specialist Astex Therapeutics Ltd and US firm SuperGen, Inc. will merge the two companies, if SuperGen’s shareholders confirm the fusion under the new name Astex Pharmaceuticals, Inc. The companies announced its intention to create a global leader in innovative oncology drug discovery, development and commercialisation and forecasted $120 million in cash and cash equivalents post deal closure. Revenues from the new enterprise, which is expected to be listed on NASDAQ under the symbol ASTX, will flow from Supergen’s Apoptosis-inducing 2’-deoxycytidine analog Dacogen (decitabine) for the treatment of multiple types of myelodysplastic syndromes, licensed from MGI Pharma and co-marketed with Esai in the US. The combined company’s clinical pipeline will include seven drugs in development – four of which are currently in or entering into Phase II clinical trials and three of which are currently partnered with large pharmaceutical companies. Astex Therapeutics brings in three drug candidates set to enter Phase II trials this year: Astex’ HSP90 blocker AT13387 in refractory solid tumours, multi cycline kinase inhibitor AT7519 developed as treatment for chronic lymphocytic leukaemia and mantle cell lymphoma, and the firm’s multi-targeted Aurora/Jak kinase blocker AT9283 in multiple myeloma. Supergen contributes its multi-targeted tyrosine kinase blocker Amuvatinib (MP470) which has completed Phase I testing in GIST.
Under the terms of the agreements, SuperGen plans to purchase Astex Therapeutics Limited, paying Astex shareholders $25 million in cash, plus shares in SuperGen common stock representing 35 percent of the total post closing shares outstanding. Subsequently, SuperGen plans to pay deferred consideration in the amount of $30 million, to be paid in stock or cash at the discretion of the combined entity, over a period of 30 months.
Under the new management structure, James S.J. Manuso, chairman, president and chief executive officer of SuperGen Inc., would become chairman and chief executive officer of Astex Pharmaceuticals, Inc., and Harren Jhoti, chief executive officer of Astex Therapeutics Limited, would become president and a member of the Board of Directors of the combined entity. The Board of Directors of the combined entity would also include Peter Fellner as vice chairman, Walter Lack, Charles Casamento, Thomas Girardi, Allan Goldberg, Tim Haines and Ismail Kola.



London - The not-for-profit UK Biobank, the most comprehensive health study in Britain, is now accessible to researchers from industry and academia. The resource, which contains some 1,000 pieces of health and lifestyle...



London – The British Wellcome Trust announced on 20 March that it will launch a £200m business to invest directly in healthcare and life sciences companies. The business, up to now running under its working title Project Sigma,...



Nanopore sequencer Oxford Nanopore Technologies, a UK firm that promises its third-generation technology could theoretically sequence a human genome in 15 minutes, impressed scientists with the first public presentation of its...



GlaxoSmithKline (GSK) is further strengthening its activity in the area of rare diseases. The London-based pharma giant has signed an early-stage deal to develop and commercialise treatments for lysosomal storage disorders...



London/Montreal - Angiochem will collaborate with British pharma trust GlaxoSmithKline (GSK) plc on treatments for lysosomal storage diseases (LSD). London-based GSK will pay $300m, including up to $31.5m in upfront cash and...



London - GlaxoSmithKline re-adjusts its €3.7bn R&D budget. Following a review, three of 38 R&D units will be cut and four new ones installed, the UK drug company said in a statement on 7 Februray. Furthermore, six of the...



London - AstraZeneca tries to shed some weight, anticipating a tough year ahead. 7,300 jobs will be gone soon, the Anglo-Swedish drug company said in a statement. Research and development operations will be cancelled in...



Newhouse – An example of Schumpeter's dictum of creative destruction can be witnessed in Scotland. A former research site of US-pharma company Merck will be reborn as a biotech science park. BioCity Scotland Ltd, a joint venture...

Displaying results 1 to 10 out of 396

1-10 Next >

© 2007-2016 BIOCOM


Current issue

All issues

Product of the week


Stock list

All quotes


  • ARGEN-X (B)14.20 EUR5.19%
  • MAGFORCE (D)4.71 EUR4.43%
  • DIAMYD MEDICAL -B- (S)7.20 SEK4.35%


  • BIONOR PHARMA (N)0.41 NOK-6.82%
  • PHOTOCURE (N)41.00 NOK-6.61%
  • SAREUM HOLDINGS (UK)0.74 GBP-5.13%


  • KARO BIO (S)43.10 SEK30.6%
  • MOLMED (I)0.42 EUR27.3%


  • BIONOR PHARMA (N)0.41 NOK-28.1%
  • WILEX (D)1.46 EUR-13.6%


  • NICOX (F)10.29 EUR430.4%
  • SAREUM HOLDINGS (UK)0.74 GBP236.4%
  • GENMAB (DK)1085.00 DKK81.6%


  • BB BIOTECH (D)44.30 EUR-82.9%
  • EVOCUTIS (UK)0.04 GBP-77.8%
  • CIRCASSIA LIMITED (L)92.00 GBP-73.1%

No liability assumed, Date: 30.08.2016


All Events