Ambit Biosciences has secured Astellas Pharma as a strategic partner for its lead product, AC220, which is in Phase II studies in relapsed/refractory acute myeloid leukaemia (AML). Under the agreement, Astellas will jointly develop and commercialise other FMS-like tyrosine kinase-3 (FLT3) inhibitors with the privately owned San Diego-based biotech firm.
Ambit will receive $40 million up front, and stands to receive up to $350 million in pre-commercialisation payments. It will...


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