Astellas Experiments With Partnering Models For a Phase IIa Ulcerative Colitis Compound

TOKYO – Astellas Pharma Inc. has created what it calls a "uniquely structured partnership" in out-licensing a compound to Drais Pharmaceuticals Inc.,which in turn established a virtual company, Telsar Pharma, Inc., solely to develop the compound. Astellas hasn't washed its hands of the compound though; its corporate venture arm invested in the virtual company and retains a number of negotiation rights if the compound reaches proof-of-concept.

Astellas out-licensed ulcerative colitis therapy ASP3291, a melanocortin receptor agonist in the planning stages of a Phase IIa study, to Drais for an undisclosed upfront payment and royalties on future...