Astellas pulls out of deal with Cartesian

15 March 2024

US clinical-stage biotech Cartesian Therapeutics (Nasdaq: RNAC) has revealed in a stock exchange filing that it has received notice from Japanese pharma major Astellas’ (TYO: 4503) subsidiary Audentes Therapeutic that it is terminating the license and development agreement, dated January 8, 2023, by and between the companies. The deal was signed with Selecta Biosciences, which since merged with Cartesian.

The termination will become effective on June 6, 2024. Following the effectiveness of the termination, the company will have no remaining financial commitments or liabilities related to the company’s Xork product candidate.

Under the Agreement, Cartesian had granted Astellas an exclusive license to the company’s IdeXork technology arising from Xork, to develop and commercialize Xork for use in Pompe disease in combination with an Astellas gene therapy investigational or authorized product.

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