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Astellas announces second Drais partnership
July 2012

TOKYO—Astellas Pharma Inc. and Drais Pharmaceuticals recently began their second partnership for the development of an Astellas compound. Astellas will transfer ownership of ASP7147, a bombesin BB2 receptor antagonist for the treatment of irritable bowel syndrome with diarrhea, to Seldar Pharma Inc., a virtual company to be operated by Drais' executive team. InterWest Partners, Sutter Hill Ventures and Astellas Venture Management LLC will invest a total of $13 million into Seldar for further development of ASP7147. Seldar will be responsible for development, manufacturing and commercialization, including associated costs. Astellas will be entitled to a milestone payment, royalties on sales of ASP7147, the right of first exclusive negotiation for future partnering related to the compound and the right of first refusal for the Japanese market.   



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