Astellas and Drais partner to develop IBS compound through Seldar
Japanese drug major Astellas Pharma (Tokyo: 4503) has entered into a second partnership in as many month with privately-held USA-based drug developer Drais Pharmaceuticals to develop and commercialize one of its compound.
Under the terms of the agreement, Astellas will transfer ownership of ASP7147, a bombesin BB2 receptor antagonist for the treatment of irritable bowel syndrome with diarrhea, from its pipeline to Seldar Pharma, a virtual company that will be operated by the Drais executive team. The partnership is similar to one Astellas and Drais entered into in April to advance ASP3291 through Telsar, another virtual company (The Pharma Letter May 1). As with Telsar, Seldar will be operated by Drais, which has substantial clinical development experience.
$13 million investment into Seldar
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