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Business

Astellas Signs Novel Development Pact

by Rick Mullin
May 13, 2013 | APPEARED IN VOLUME 91, ISSUE 19

Astellas and Drais Pharmaceuticals will collaborate on the development of an Astellas compound that treats nocturia, a sleep disorder. Under the agreement, Astellas will license ASP7035, currently in Phase II clinical trials, to Tacurion Pharma, a virtual company operated by Drais. The deal is similar to two others Astellas entered with other Drais-run virtual companies, Telsar Pharma and Seldar Pharma, to develop drugs for ulcerative colitis and inflammatory bowel disease. Astellas and two venture capital firms, InterWest Partners and Sutter Hill Ventures, will invest a total of $15 million in Tacurion.

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