Astellas ends FLT3 deal with Ambit; reports on flu vaccine ASP7374

The US subsidiary of Japanese drug major Astellas Pharma (TYO: 4503) and USA-based privately held firm Ambit Biosciences announced that they will end their collaboration for the joint development and commercialization of FMS-like tyrosine kinase-3 (FLT3) inhibitors, including quizartinib, effective September 3, 2013.

Astellas gained access to the program under a $390 million deal signed in 2009 (The Pharma Letter December 18, 2009). It has now exercised its right to terminate the worldwide license agreement, citing “strategic reasons,” and, over the months ahead, the companies will work together to transfer current development activities to Ambit. On the effective date of termination, Ambit will regain all rights granted to Astellas and continue with the quizartinib clinical trial program.

Michael Martino, president and chief executive of Ambit, said: “With the Phase II study results for quizartinib that were presented at the ASH Annual Meeting last year [TPL December 18, 2012], we and members of the medical community continue to be excited about quizartinib and its potential to meet a significant, unmet need in acute myeloid leukemia (AML) patients. We are fully committed to moving forward with the Phase III clinical trial plan and look forward to advancing this important drug candidate toward approval.”