Astellas Strengthens Next-Gen I-O Hand With $665m Xyphos Buy

Following on from the early December announcement that it is paying $3bn for US gene therapy company Audentes Therapeutics Inc., Astellas Pharma Inc. has bought the privately held US immuno-oncology (I-O) bioventure Xyphos Biosciences, for $120m upfront.

The structured acquisition could be worth up to $665m in total factoring in future development milestone payments including the initial sum paid upon closing, which has already made South San