Astellas announces acquisition of pharmaceutical company Ogeda

Astellas has announced the acquisition of the privately-owned drug discovery company Ogeda in a deal worth up to 800 million euros (681.55 million pounds).

The clinical-stage drug discovery company is responsible for the development of small molecule drugs targeting G-protein coupled receptors, including its lead investigational candidate fezolinetant. 

This selective NK3 receptor antagonist has demonstrated a strong performance in a phase IIa study result assessing its potential as a non-hormonal treatment for menopause-related vasomotor symptoms.

Fezolinetant was shown to reduce the frequency of moderate to severe forms of the condition by 89 percent from baseline after four weeks and 93 percent by 12 weeks, compared to 38 percent and 54 percent respectively for placebo.

Yoshihiko Hatanaka, president and chief executive officer of Astellas, said: "The transaction fits with our strategy to deliver innovative drugs in therapeutic areas with high unmet medical needs."

It is expected that the deal will be concluded during the second quarter of the year.

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