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Home Industry News Otsuka agrees Astex Pharmaceuticals takeover

Otsuka agrees Astex Pharmaceuticals takeover

6th September 2013

Otsuka Pharmaceutical has agreed to acquire fellow healthcare company Astex Pharmaceuticals in a deal worth $866 million (568.2 million pounds).

Astex is a bio-venture company established in 1991, which operates a fragment-based drug discovery research centre in Cambridge and a clinical research and development base in California.

It is known for its creation of a fragment-based discovery technology called Pyramid, an innovation that allows for more rapid discovery and development of compounds for target proteins implicated in diseases than was previously possible.

The firm also specialises in cancer drug development and recently partnered with Eisai and Janssen on the development of Dacogen, a therapy for myelodysplastic syndromes and elderly acute myeloid leukaemia.

Dr Taro Iwamoto, Otsuka Pharmaceutical's president and representative director, said: "I hope that this acquisition of Astex will strengthen not only our cancer portfolio, but also our drug discovery research in the central nervous system field."

This comes after the firm established a new UK-based division called Otsuka Europe Development and Commercialisation earlier this year, dedicated to the development of new pharmaceuticals.ADNFCR-8000103-ID-801634429-ADNFCR

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