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Home Industry News Astellas and Drais agree nocturia drug development deal

Astellas and Drais agree nocturia drug development deal

7th May 2013

Astellas and Drais Pharmaceuticals have extended their collaborative relationship to encompass the development and commercialisation of a third Astellas compound.

Under the terms of the new agreement, Astellas will license the phase IIa-ready vasopressin V2 receptor selective agonist ASP7035 to Tacurion Pharma for the treatment of nocturia.

Tacurion is a virtual company that will be operated by the Drais executive team and is set to receive funding support of $15 million (9.65 million pounds) via Astellas Venture Management and the venture capital firms InterWest Partners and Sutter Hill Ventures.

Utilising this virtual company model allows investors to focus their funding on a single compound and also simplifies any future sale of the compound.

Astellas added that adopting this collaborative approach to drug development will allow it "to optimise costs and control risks, while accessing outside capital and expertise".

Last week, the firm announced that it has received a European Committee for Medicinal Products for Human Use recommendation for approval of Xtandi, a new prostate cancer drug developed alongside Medivation.ADNFCR-8000103-ID-801581623-ADNFCR

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