Astellas takes up option to buy US mitochondrial drug discovery partner

Astellas Pharma (TYO: 4503) has exercised its exclusive option right to acquire USA-based Mitobridge under the amended terms of the October 2013 partnership agreement governing their R&D collaboration focused on discovering and developing novel drugs that target mitochondrial function.

Mitobridge, previously known as Mitokyne, will become a wholly-owned subsidiary of the Japanese pharma major following the close of the acquisition, which is expected to occur in the next several weeks.

Under the 2013 partnership agreements, Astellas and Mitobridge have collaborated to discover and develop compounds that target mitochondrial function. These drug candidates have the potential to treat genetic, metabolic or neurodegenerative disorders as well as conditions of aging. MA-0211, the most advanced program emerging from the collaboration, is currently in Phase I clinical studies for Duchenne muscular dystrophy (DMD).