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Astellas completed the acquisition of Propella Therapeutics for $175m.

Synopsis

Astellas, a pharmaceutical company, completed the acquisition of Propella Therapeutics, a biopharmaceutical company that has developed a platform that combines medicinal chemistry, for $175m. "The acquisition fits with Astellas' strategy to provide patients with therapeutic options for diseases with high unmet medical needs. Propella has a promising program, PRL-02, targeting prostate cancer. We believe that the synergy with Astellas' global development and commercialization capabilities in the cancer and urology fields will accelerate the development of PRL-02 and deliver new VALUE to patients with prostate cancer," Naoki Okamura, Astellas President and CEO.

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