Astellas announces collaboration with Proteostasis Therapeutics

Astellas Pharma has announced it is to collaborate with Proteostasis Therapeutics to research and develop therapeutic candidates that modulate the the Unfolded Protein Response (UPR).

The modulation of the UPR will be made possible through the use of Proteostasis Therapeutics’ proprietary ‘Disease Relevant Translation’ and ‘Proteostasis Network’ platform.

Under the terms of the agreement, Proteostasis Therapeutics will received an initial upfront payment, along with securities investment.

The firm is also eligible for research funding support, future development and commercial milestones that when combined could be worth $400 million (252.67 million pounds).

Furthermore, the deal endows Astellas with the right to begin two additional projects, which would see the value of the collaboration rise to $1.28 billion, if the company exercises this entitlement.

Meenu Chhabra, president and chief executive officer of Proteostasis Therapeutics, explained that the firm is delighted about the partnership, adding: “Our novel approach to drug discovery, coupled with Astellas’ track record in drug development, will enable rapid discovery and development of therapies for important unmet medical needs.”

The impact of this deal has been accounted for in revised forecasts for Astellas’ fiscal year ending March 2015.