Astellas Pharma acquires Potenza Therapeutics in $404.7m deal

Japanese pharmaceutical giant Astellas Pharma has announced the acquisition of US-based Potenza Therapeutics in a significant transaction valued at up to $404.7 million. This strategic move is the culmination of a collaborative partnership established between the two companies in 2015, aimed at advancing novel immuno-oncology (IO) therapies.

Under the terms of the acquisition, Astellas has initially paid an upfront fee of $164.6 million to Potenza. Additionally, Potenza’s shareholders are eligible to receive up to $240.1 million in contingent payments, contingent on the successful progression of various clinical programs.

Development of Innovative Therapies

The acquisition comes after three and a half years of successful research and development collaboration between Astellas and Potenza. Together, the companies have developed three investigational new drugs (INDs): ASP8374/PTZ-201, ASP1948/PTZ-329, and an anti-NRP1 antibody. These therapies are designed to address cancers that are resistant to current IO treatments.

• ASP8374/PTZ-201: An anti-TIGIT antibody currently in phase 1 clinical studies.
• ASP1948/PTZ-329: An anti-NRP1 antibody, which acts as a Treg function inhibitor, also undergoing phase 1 trials.
• ASP1951/PTZ-522: A novel GITR agonistic antibody that has recently achieved IND clearance.

These drugs represent a promising advancement in treating cancers that are currently underserved by existing therapies.

Strategic Implications for Astellas

Kenji Yasukawa, President and CEO of Astellas Pharma, emphasized that the acquisition aligns with Astellas’ dedication to innovation and strategic partnerships. He stated, “This transaction underscores Astellas’ commitment to innovation and scientific partnerships to advance our creation of value for patients.” Yasukawa highlighted that the new assets from Potenza have the potential to significantly impact cancer treatment.

The integration of Potenza’s pipeline into Astellas’ portfolio will not only enhance its existing immuno-oncology programs but also offer potential synergies with its non-IO programs. This acquisition is expected to strengthen Astellas’ position in the competitive oncology market and facilitate future advancements in IO therapy combinations.

Future Prospects and Statements

Following the acquisition, Potenza will become a wholly-owned subsidiary of Astellas, thereby consolidating Astellas’ clinical IO pipeline. Dan Hicklin, President and CEO of Potenza, expressed pride in the partnership’s achievements, noting, “We are extremely proud of what the experienced Potenza team has accomplished to discover and create innovative therapeutics for the treatment of cancers.” Hicklin also praised the resources and support that Astellas will provide for the continued development of these promising therapies.

This acquisition marks a significant milestone for both companies and underscores the increasing focus on innovative cancer treatments in the pharmaceutical industry.