Tokyo-based Astellas Pharma is rolling out a major R&D restructuring effort, shuttering facilities at its OSI Pharmaceuticals and Perseid Therapeutics subsidiaries and cutting back its work at the Astellas Research Institute of America to focus solely on CNS diseases.
Japan's drugmakers aren't any more immune from generic competition than U.S. pharma companies are. Still the country's second- and third-largest drugmakers are predicting sales growth this year, even as low-cost copies drain away sales of their key products. New drugs are coming in to pick up the slack, the companies said.
Astellas and a pair of venture companies have joined forces to launch a spinout virtual biotech which will pick up mid-stage research work on an experimental therapy for nocturia.
Just a month after landing a $15 million payday for a deal with Astellas to collaborate on new antibody drug conjugates for cancer, the San Diego-based biotech Ambrx has scored another research pact--reaping another $15 million upfront from Bristol-Myers in exchange for a new oncology partnership.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Michael Gibney ( email | Twitter ) or Emily Mullin ( email |...
San Diego-based Ambrx welcomed an influx of cash for the further development of its drug-delivery technology: antibody drug conjugates, or ADCs.
Astellas Pharma has wagered on antibody drug conjugate tech from the San Diego biotech startup Ambrx, paying $15 million upfront and committing up to $285 million more in their collaboration focused in oncology. And it's more proof that major pharma outfits are keen on the advantages of pairing targeted antibodies with potent drug payloads to treat cancer.
One of Japan's largest pharma outfits has commissioned one of the world's largest supercomputers to aid efforts to overcome one of the largest global heath threats. Astellas Pharma's big idea is to hunt down drugs against illnesses caused by dengue virus, a major tropical disease without therapeutic answers.
Talk about bad timing. Just days after San Diego-based Ambit Biosciences stepped up to confidently announce its second try at an IPO, its partner Astellas unceremoniously dumped its $390 million partnership on a portfolio that includes the biotech's lead development program.
Lexington, MA-based Cubist Pharmaceuticals has bought out Astellas' rights to ceftolozane, putting up $25 million in cash for an antibiotic that has demonstrated some promising outcomes in clinical studies.