Astellas partners with Potenza, takes equity stake

Astellas Pharma Inc. (Tokyo:4503) partnered with Potenza Therapeutics Inc. (Cambridge, Mass.) to develop the biotech's preclinical immuno-oncology candidates.

Astellas made an undisclosed equity investment in Potenza and paid an option fee giving it the right to acquire Potenza at the end of the deal's term. Astellas will fund the biotech's preclinical work, and will be responsible for clinical development of compounds covered by the deal. Potenza is eligible for undisclosed milestones. The companies declined to disclose the deal's length or financial details. ...