50 per Astex
share, representing a 48 per cent premium on the average closing price over the previous 30 days, has the backing of both company boards and comes just a little over two years after US firm, Supergen, merged with Cambridges Astex
Therapeutics to create Astex
Pharmaceuticals, a deal that then valued the Cambridge company at around $120m.
is developing AT9311 in collaboration with Novartis.
Shortly after we released our letter, Astex
issued an open letter, apparently to respond to our and other shareholders' concerns about the current transaction.
AT7519 and AT13148 are among five compounds currently being developed by Astex
for the treatment of solid tumours and haematological malignancies.
The Company expanded its product pipeline following the Astex
acquisition to include four company-sponsored phase II programs and four partner-sponsored clinical programs.
We believe the recently announced merger transaction with Otsuka Pharmaceutical significantly undervalues Astex
and therefore we do not intend to tender our shares.
Therapeutics Limited, Leon Bushara, Chief Executive Officer, Email: l.
The coming months and years will be exciting ones at Astex
as we continue to evolve into a fully-integrated drug discovery and development company, with a growing number of products advancing toward the market.
has been actively involved in human cytochrome P450 research since the company's formation and Astex
scientists were the first group to successfully solve the crystal structures of human cytochromes P450, 3A4 and 2C9(3).
The decision to transfer the CLIMB[TM] epigenetic program to GSK was based on our assessment of internal resources and discussions with GSK," said Harren Jhoti, PhD, president of Astex
Today, Investors' Reports announced new research reports highlighting Johnson & Johnson (NYSE: JNJ), Novartis AG (NYSE: NVS), AstraZeneca PLC (NYSE: AZN), Astex
Therapeutics today announced that it had begun dosing first patients in a Phase I/IIa clinical trial of its investigational anti-cancer drug AT9283.