Astellas completes 800 million euro biotech acquisition
Japanese pharma company Astellas has completed its 800 million euro acquision of Ogeda.
The Beligium biotech is now a wholly-owned subsidiary of Astellas and expands the firm’s late-stage pipeline.
Ogeda’s lead investigational candidate is fezolinetant, a selective NK3 receptor antagonist with positive data from a Phase IIa study for the non-hormonal treatment of menopause-related vasomotor symptoms.
Additionally Astellas gains a range of small molecule drugs targeting G-protein coupled receptors (GPCRs) – a field also being explored by Sosei’s Hepares subsidiary, which has deals with the likes of Pfizer, Merck & Co and AstraZeneca.
For its part Astellas will make an initial payment of 500 million euros in consideration of 100 percent of the equity in Ogeda.
The biotech’s shareholders are also eligible to receive an additional 300 million euros with attainment of certain clinical development and regulatory milestones for fezolinetant.
Astellas said the deal, in addition to boosting its pipeline, would contribute to its mid-to-long term growth.
19th May 2017