Astellas and AstraZeneca strike deal over diabetes assets

Astellas has agreed an option deal with AstraZeneca pertaining to a pair of potentially beneficial new therapies for type 2 diabetes.

AstraZeneca has been granted the exclusive option by Astellas' subsidiary Prosidion to acquire the phase II clinical and pre-clinical assets PSN821 and PSN842 in return for an undisclosed fee.

Both of these compounds belong to a family called G protein-coupled receptor GPR119 agonists, which can be orally administered in order to lower blood glucose, reduce food intake and minimise body weight.

AstraZeneca will decide whether or not to exercise its new option based on the results of the forthcoming clinical trials of the drugs.

Yoshihiko Hatanaka, president and chief executive officer of Astellas, said: "We are delighted to have found such an experienced partner for these assets. AstraZeneca has a strong track record in the commercialisation and launch of products in competitive primary care markets."

This comes after Astellas last month announced a new research alliance with the Riken Brain Science Institute, which will centre around the creation of new Alzheimer's disease treatments.