Astellas and Cardeus form drug development alliance

Astellas has agreed a deal with Cardeus Pharmaceuticals over the development and commercialisation of three new compounds.

Under the terms of the deal, Cardeus will pay Astellas an upfront fee, plus royalties and milestone payments, in exchange for international marketing rights to YM758, ASP6537 and one pre-clinical agent.

This will pertain to all territories other than Japan, while Astellas will be granted rights of first negotiation in both the EU and US as regards Cardeus' future partnering activities on the compounds.

Cardeus will receive funding support from Mitsui and Co Global Investment in order to help minimise the risks attached to the drug development projects.

Masafumi Nogimori, president and chief executive officer of Astellas, said: "We have high expectations that Cardeus' efforts represent a significant step towards effectively delivering products to the market."

Last month, Astellas published new data from a phase III clinical trial of mirabegron, its new treatment for overactive bladder.