Astellas to acquire Propella Therapeutics

Japanese pharma major Astellas Pharma (TYO: 4503) has entered into a merger agreement to acquire Propella Therapeutics, a privately-held US biopharmaceutical company that has leveraged a wholly-owned proprietary platform that combines medicinal chemistry with lymphatic targeting to create new oncology drugs.

As a result of the acquisition, Astellas will acquire PRL-02 (abiraterone decanoate), a next-generation androgen biosynthesis inhibitor being developed by Propella to treat prostate cancer. PRL-02 is a novel, long-acting prodrug of abiraterone that, following intramuscular injection, is expected to achieve high concentrations in target tissues where the active moiety, abiraterone, is continuously released. Abiraterone acetate is the active ingredient of Johnson & Johnson’s (NYSE: JNJ) Zytiga.

According to Astella, PRL-02 may provide improved efficacy and safety compared to existing treatment options by high CYP17 lyase inhibition selectivity. PRL-02 is currently in a Phase I clinical trial and is expected to enter Phase IIa clinical trials in 2024.