Astellas Exercises Option To Acquire Potenza, For Up To $405m

14 Dec 2018

Astellas has exercised an option to acquire Potenza, paying up to $404.7m in cash for the private US venture in a deal that will boost its presence in immuno-oncology.

Business partners hands on top of each other symbolizing companionship — Astellas Exercises Option To Acquire R&D Partner Potenza • Source: Shutterstock

Astellas Pharma Inc. is paying $164.6m upfront, and up to $240.1m in future payments, to acquire the private US venture Potenza Therapeutics Inc., providing the major Japanese pharma company with what it describes as "a competitive and fully owned clinical IO [immuno-oncology] pipeline."

As such, the deal will further strengthen Astellas's ongoing strategic push into oncology, where it has been seeing strong global...