Astellas to Acquire Ogeda SA

Astellas Pharma Inc. has entered into a definitive agreement to acquire Ogeda SA, a privately-owned drug discovery company focused on small molecule drugs targeting G-protein coupled receptors (GPCRs), for as much as €800 million. Its lead candidate, fezolinetant, a selective NK3 receptor antagonist, achieved positive data from a Phase IIa study for the non-hormonal treatment of menopause-related vasomotor symptoms (MR-VMS). Ogeda will become a wholly owned subsidiary of Astellas. The closing, subject to certain conditions, is expected to be finalized in 2Q17.
 
Astellas will make an initial payment of €500 million in consideration of 100% of the equity in Ogeda at the closing of the transaction. Ogeda shareholders will be eligible to receive an additional €300 million based on certain clinical development and regulatory milestones for fezolinetant.
 
"The transaction fits with our strategy to deliver innovative drugs in therapeutic areas with high unmet medical needs. Ogeda has been pioneering the development of a NK3 receptor antagonist fezolinetant for the treatment of MR-VMS", said Yoshihiko Hatanaka, president and chief executive officer, Astellas. "We are committed to advancing science to deliver life changing medicines to people most in need. Astellas has a history of discovery and development of the unique medical treatments to improve patients' quality of life. By leveraging this strength, we aim to deliver this potential new therapeutic option to those patients who are suffering from MR-VMS."
 
Jean Combalbert, chief executive officer of Ogeda said, "We welcome the acquisition by Astellas and look forward to developing fezolinetant, first non-hormonal treatment of Hot Flashes (HF)/ MR-VMS, inside a leading global pharmaceutical company. With its strong development and commercialization capabilities, resources and vision, I am convinced that Astellas will be able to turn fezolinetant promising clinical results into near-term value for patients."