Astellas secures acquisition option for kidney transplant drug

Astellas Pharma has signed a deal with Alavita Pharmaceuticals that gives the company an option to acquire rights to the developmental therapy Diannexin.

The drug, which has successfully completed phase IIa testing, functions by inhibiting monocyte and platelet binding to phosphatidylserine and can help to prevent delayed graft function (DGF) in kidney transplantation.

Astellas has paid a non-negotiable fee of $5 million (3.1 million pounds) under the terms of the agreement, which will see the firm conduct a phase IIb study evaluating the treatment.

Should it choose to exercise its option following the conclusion of this trial, Astellas would pay up to $40.5 million to gain control of all of Alavita's assets and rights relating to Diannexin.

The company said: "This new partnership with Alavita is an important step to further assist patients by preventing DGF, and to expand our business and reinforce Astellas' presence and commitment in the area of transplant."

Last month, Astellas revealed that it is to transfer all distribution and manufacturing rights to the drug Intal to Sanofi-aventis, following the expiration of a contract between the two businesses.