Ambit Biosciences Corporation; Astellas Pharma Inc.

Ambit to Receive a US$40 Million Upfront Cash Payment; Up to US$350 Million in Pre-Commercialization Milestones, Double-Digit Royalties with Option to Co-promote and Share Profits in U.S.

SAN DIEGO and TOKYO, December 18 - Ambit Biosciences Corporation and Astellas Pharma Inc.