Astellas Completes Acquisition Of Propella Therapeutics
Astellas Pharma Inc. has successfully completed the
acquisition of Propella Therapeutics, Inc., making Propella a wholly-owned
subsidiary of Astellas as of December 21, 2023. The acquisition includes
obtaining Propella's innovative androgen biosynthesis inhibitor, PRL-02
(abiraterone decanoate), designed for the treatment of prostate cancer. PRL-02,
a novel, long-acting prodrug of abiraterone, is expected to achieve high
concentrations in target tissues, providing a continuous release of the active
moiety. This mechanism may enhance efficacy and safety compared to current
treatments due to high CYP17 lyase inhibition selectivity. Currently in Phase 1
clinical trials, PRL-02 is anticipated to enter Phase 2a clinical trials in
2024. Astellas paid approximately US $175 million for the acquisition, and the
impact on Astellas' financial results for the fiscal year ending March 31,
2024, is expected to be limited. The acquisition positions Astellas for
advancements in prostate cancer treatment and underscores its commitment to
innovative therapies.
More Information : https://www.techdogs.com/tech-news/pr-newswire/astellas-completes-acquisition-of-propella-therapeutics
Comments
Post a Comment