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Astellas Adds To Regenerative Medicine Portfolio In Hearing Loss Deal With Frequency

 
• By Mandy Jackson

Astellas adds a large-market drug candidate to its regenerative medicine portfolio, while Frequency Therapeutics almost doubles its fundraising to date. It traded ex-US rights to hearing loss candidate FX-322 for $80m up front and up to $545m in milestone fees plus royalties.

hearing-loss
About 90% of adults with hearing loss have sensorineural hearing loss. • Source: Shutterstock

Astellas Pharma Inc. continues to build up a regenerative medicine portfolio, most recently paying $80m up front to develop and commercialize Frequency Therapeutics Inc.'s one-and-only clinical drug candidate – FX-322 for hearing loss – in ex-US markets.

The deal announced on 17 July also gives Woburn, MA-based Frequency up to $545m in development and commercial milestone fees plus royalties on ex-US sales of FX-322

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