Astellas to buy antibodies rights

Astellas Pharma has announced it will pay 2.5 billion yen (?0.01 billion) for the sales and development rights to antibodies owned by a Japanese firm.

The antibodies in question neutralise osteopontic, one of the proteins responsible for rheumatoid arthritis, the spread of cancer cells and bone disease.

Astellas will pay 400 million yen for the initial payment of the contract to Immuno-Biological Laboratories, whose research base is located in the Gunma prefecture, north of Tokyo.

Following government approval, Astellas will be able to make and sell the product worldwide while still paying royalties to Immuno-Biological.

Astellas was formed in April 2005 and is in competition with Daiichi Sankyo to become Japan’s second-largest drugmaker.

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