Astellas inks research deal with PeptiDream

25 July 2023

Japanese pharma major Astellas Pharma (TYO: 4503) today announced a research collaboration and license agreement with Kanagawa-based biotech firm PeptiDream (TYO: 4587) to discover novel protein degraders for two targets selected by Astellas.

The news saw PeptiDream’s shares dip 2.4% to 1,838 yen, despite the fact that the collaboration could earn the company nearly half a billion dollars. Astellas edged down 1% to 2,080 yen.

Under the agreement between the two companies, Astellas will have the option to select up to three additional targets to be included in the collaboration.

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