Astellas accomplished the acquisition of US biotech Mitobridge

| By | Astellas, Pharmaceutical Deal
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Astellas Pharma Inc., a leading Japanese pharmaceutical company, announced that it has completed the acquisition of Mitobridge, Inc., and Mitobridge has become a wholly owned subsidiary of Astellas.

By exercising the option right to acquire Mitobridge, Astellas paid $225 million to acquire 100% of the equity in Mitobridge.

Mitobridge, a US biotech company, is focused on discovering and developing novel small molecule therapeutics that improve mitochondrial functions. Company is progressing innovative approaches to the treatment of diseases with high unmet medical need.

The transaction accelerates Astellas’ research and development in diseases associated with mitochondrial dysfunctions and will enable the delivery of innovative new treatment options to patients. At this point, Astellas will maintain the organization in Cambridge, MA, and retain the Mitobridge name as a division of Astellas.

SOURCE: astellas
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