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

 
• By Ian Haydock

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 growth this year for Xtandi (enzalutamide) for prostate cancer, now its top product

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