Astellas to Buy Small-Molecule Drug Company for $847 MillionBy
Astellas Pharma has agreed to acquire Ogeda, a Gosselies, Belgium-headquartered privately owned clinical-stage drug discovery company that discovers and develops small molecule drugs targeting G-protein coupled receptors.
The transaction expands Astellas’ late-stage pipeline with the addition of a lead investigational candidate, fezolinetant, a selective NK3 receptor antagonist which was announced in January 2017 along with positive Phase IIa study data of the drug for the non-hormonal treatment of menopause-related vasomotor symptoms.
Under the agreement, Astellas has agreed to pay up to a total of EUR 800 million ($847 million) and will make an initial payment of EUR 500 million ($530 million) in consideration of 100% of the equity in Ogeda at the closing of the transaction. Ogeda shareholders will be eligible to receive an additional EUR 300 million ($318 million) with attainment of certain clinical development and regulatory milestones for fezolinetant.
Upon completion of the transaction, Ogeda would become a wholly owned subsidiary of Astellas. The closing of the transaction is subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of the US, and is expected to be finalized in the second quarter of 2017.
Source: Astellas Pharma