Astellas announced the acquisition of Mitobridge biotechnology company

| By | Astellas, Drug Development, Pharmaceutical Deal, R&D

Astellas Pharma Inc, a Japanese pharmaceutical company and Mitobridge, Inc., a US-based biotechnology company, announced that Astellas has exercised its exclusive option right to acquire Mitobridge under the terms of the partnership agreement governing their an R&D collaboration focused on discovering and developing novel drugs that target mitochondrial function. Mitobridge will become a wholly-owned subsidiary of Astellas following the close of the acquisition.

Under the 2013 partnership agreements, Astellas and Mitobridge have collaborated to discover and develop compounds that target mitochondrial function. These drug candidates have the potential to treat genetic, metabolic or neurodegenerative disorders as well as conditions of aging. MA-0211, the most advanced program emerging from the collaboration, is currently in Phase 1 clinical studies for Duchenne Muscular Dystrophy (DMD).

“Astellas has increased the involvement in mitochondrial drug discovery through its partnership with Mitobridge and the network of key scientists that the company has assembled. The achievements resulting from the collaboration have exceeded our expectations including the rapid advancement of multiple programs,“ commented Yoshihiko Hatanaka, President and CEO, Astellas. “Through the acquisition of Mitobridge, Astellas accelerates our investment in diseases caused by mitochondria dysfunctions in order to deliver innovative new treatment options to patients.”

SOURCE: astellas
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