Astellas partners with Drais to develop its ulcerative colitis compound

1 May 2012

Japanese drug major Astellas Pharma (TYO: 4503) has entered into a uniquely structured partnership with privately-held USA-based drug developer Drais Pharmaceuticals to develop and commercialize an Astellas compound.

As part of the agreement, Astellas will transfer ownership of ASP3291, a melanocortin receptor agonist for the potential treatment of ulcerative colitis, from its pipeline to Telsar Pharma, a virtual company that will be operated by the Drais executive team.

$14 million investment in Telsar

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