Astellas to wind-down Agensys research operations

The US subsidiary of Japanese pharma major Astellas Pharma (TYO: 4503) says  it is winding down its Agensys research operations in Santa Monica, California, USA, to further refine its oncology strategy by expanding its investment in the research in new technologies and modalities and reducing its focus on antibody-drug conjugate (ADC) research.

Astellas acquired US biotech firm Agensys in a deal worth around $387 million in 2007.

“Agensys has positively contributed to Astellas’ objective of developing innovative treatments for patients with cancer,” said Wataru Uchida, senior vice president, Drug Discovery Research (DDR), Astellas. “The team has provided post-proof of concept compounds and antibody-related technology that have been incorporated into our promising oncology pipeline. Yet, the field of research has evolved and led to a new frontier of treatment options. Expanding our investment in this new area of research and development will be critically important and help us to better address high unmet medical needs, as well as deliver innovative benefits to patients in the fight against many types of cancers.”