Kanyos, Astellas deal

Astellas partnered with and invested in Kanyos, a newco spun out from Anokion S.A. (Ecublens, Switzerland). Kanyos will use Anokion’s antigen-specific tolerance technology to develop treatments for Type I diabetes and celiac disease. Astellas will provide R&D funding for Kanyos’ programs and has an option to acquire Kanyos once its programs meet undisclosed preclinical milestones. Kanyos and its shareholders are eligible to receive a total of $760 million, including R&D funding, option exercise fees and milestones. ...