Astellas links with Anokion to develop celiac disease and type 1 diabetes therapies
Japanese drug major Astellas Pharma (TYO: 4503) has entered into an agreement with privately-held Swiss biotech firm Anokion to collaborate in the fields of type 1 diabetes and celiac disease.
Key components of the agreement include:
- A new company, Kanyos Bio Inc (location: Cambridge, Massachusetts, USA), has been created to develop clinical candidates in the two selected indications, with an option for Astellas to add a third autoimmune indication as part of the collaboration.
- Astellas will provide non-dilutive research funding to Kanyos and holds an option to acquire Kanyos after reaching certain milestones.
- Total potential deal value of about $760 million includes R&D funding, option exercise and milestone payments.
- Astellas will also participate, along with Anokion’s existing investors, in a $16 million equity financing for Kanyos.
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