Astellas acquires build-to-buy Mitobridge

Astellas Pharma Inc. (Tokyo:4503) exercised its exclusive option to acquire mitochondrial disorder company Mitobridge Inc. (Cambridge, Mass.) for $225 million up front and up to $225 million in milestones. Astellas held the option under an amended 2013 deal.

Created in 2012 by MPM Capital as Mitokyne Inc., Mitobridge is using small molecules to improve or regenerate mitochondrial function in neuromuscular, cardiovascular and metabolic disorders. Astellas, MPM and Longwood Founders Fund participated in Mitobridge’s $45 million series A round in 2013 and remain the company’s major shareholders (see BioCentury, Oct. 14, 2013)...