VelosBio to be Acquired by Merck…

 
April 4, 2011

Daiichi Sankyo Co. Ltd. completed its acquisition of Plexxikon Inc., giving shareholders $805 million upfront with the possibility of near-term milestone payments of another $130 million on Plexxikon’s potential melanoma drug.

Plexxikon will retain its name, employees and Berkeley facilities, and it will continue research and development operations as an independent unit of Tokyo-based Daiichi Sankyo.

The deal was announced in late February.