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Astellas announces second Drais partnership
July 2012
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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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