Sector News

Astellas buys Belgian drug discovery group Odega for up to €800M

April 4, 2017
Life sciences

Astellas Pharma has agreed to acquire privately-held Belgian drug discovery group Odega in a deal worth up to 800 million Euros.

Ogeda is a clinical-stage drug discovery company that discovers and develops small molecule drugs targeting G-protein coupled receptors (GPCRs).

The firm’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.

Under the deal, Astellas will make an initial payment of 500 million euros in consideration of 100 percent of the equity in Ogeda at the closing of the transaction.

Ogeda shareholders are also eligible to receive an additional 300 million euros with attainment of certain clinical development and regulatory milestones for fezolinetant.

If the transaction, which remains subject to certain conditions, is successfully completed, Ogeda will become a wholly owned subsidiary of Astellas, expanding the Japanese drugmaker’s late-stage pipeline and contributing to its mid-to-long term growth.

By Selina McKee

Source: Pharma Times

comments closed

Related News

October 1, 2023

Clinical data from Boston Scientific and rivals could reshape pulmonary embolism market: analysts

Life sciences

After attending the annual Pulmonary Embolism Symposium last week in Austin, Texas, the analysts predicted clinical guidelines could shift toward catheter-based therapy once data from ongoing randomized trials is available.

October 1, 2023

AstraZeneca and SAS link up on AI and analytics

Life sciences

SAS – the AI and analytics company – has been selected by AstraZeneca to help boost efficiency and drive automation in the delivery of statistical analyses for clinical and post-approval submissions to regulatory authorities.

October 1, 2023

Will Big Pharma engage in Medicare price negotiations? Merck, AZ and BMS say they will

Life sciences

After the Centers for Medicare & Medicaid Services (CMS) revealed the list of drugs set to face the first round of price negotiations under the Inflation Reduction Act (IRA), the drugmakers responsible for marketing them are confronting a series of deadlines.

How can we help you?

We're easy to reach