Acquisitions · Pharmaceuticals (mitochondrial diseases)
Astellas buys Cambridge drug developer Mitobridge for $225 million upfront
- Buyer
- Astellas Pharma (Tokyo)
- Target
- Mitobridge, Cambridge, Massachusetts
- Value
- $225M upfront plus up to $225M in milestones (net cash $165.5M)
- Status
- Agreed on November 30, 2017; completed in December 2017.
- Date
- 2017-11-30
Astellas Pharma bought Mitobridge, a Cambridge, Massachusetts company developing drugs for diseases linked to mitochondrial dysfunction, under an existing collaboration between the two. Astellas paid $225 million upfront and agreed to pay up to $225 million more in milestones. Because Astellas already owned part of Mitobridge, its net cash outlay was $165.5 million.
Why it matters
The deal turned a research partnership into full ownership, bringing Mitobridge's programs inside Astellas.
Sources
Kakehashi M&A News home
