Otsuka to buy Jnana in deal that may exceed $1 billion
Japanese drugmaker Otsuka Pharmaceuticals (TYO: 4578) is to buy privately-held US biotech Jnana Therapeutics.
Otsuka will pay $800 million to the shareholders of Jnana upon completion of the acquisition, as well as up to an additional $325 million in development and regulatory milestones.
The Tokyo-based firm was attracted to Jnana's novel approach to drug discovery, which is enabled by RAPID, a chemoproteomics platform designed to discover medicines for highly validated but challenging-to-drug targets.
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