Daiichi Sankyo shuts down Plexxikon subsidiary to streamline Enhertu, ADC development

Daiichi Sankyo is saying goodbye to one of its longtime subsidiaries.

The multinational pharma company announced Wednesday it will shut down all operations of Plexxikon, which it acquired in a $935 million buyout back in 2011. In a release, Daiichi said it’s closing Plexxikon’s offices to “maximize its R&D investment” in its major cancer drug Enhertu as well as two other ADC programs, Dato-DXd and HER3-DXd.