In October 2013, it closed a Series A financing from MPM Capital, Longwood Fund, and Astellas Pharma and a shared vision for the promise of mitochondrial-targeted therapeutics. Mitobridge will be eligible for additional payments that total up to $225 million2, depending on the progress of various programs in clinical development. By exercising the option right to acquire Mitobridge, Astellas paid $225 million1 to acquire 100% of the equity in Mitobridge. TOKYO, Jan. 23, 2018 /PRNewswire/ -- Astellas Pharma Inc. today announced that it has completed the acquisition of Mitobridge, Inc. , and Mitobridge has become a wholly owned subsidiary. December 4, 2017 Astellas acquires drug discovery subsidiary Mitobridge Japanese firm Astellas Pharma has exercised its exclusive option right to acquire US-based biotechnology company Mitobridge to accelerate the discovery and development of new treatments that target mitochondrial functions. For media inquiries and reporter requests, please click here to fill out a request form. We are capitalizing on the latest biological findings that have . Japanese company Astellas Pharma has concluded the acquisition of 100% equity in US-based biotechnology firm Mitobridge for a total of $225m, making the firm its wholly owned subsidiary. We are also creating new value by combining internal capabilities and external expertise in the medical/healthcare business. Our approach to modulating NAD+levels. (2) Location: Cambridge, MA By exercising the option right according to the amended agreement, Astellas will pay an upfront fee of $225 million2 to acquire Mitobridge. Mitobridge will become a wholly-owned subsidiary of Astellas following the close of the acquisition. Acquisition Summary (1) Acquiring company: Astellas Pharma Inc. (2) Major shareholders of Mitobridge: MPM Capital, Longwood Funders Fund, Astellas Pharma Inc. (3) Payment: Cash on hand (4). Mitobridge will be eligible for additional payments that total up to $225 million (2), depending on the progress of various programs in clinical development. PALO ALTO, Calif.--(BUSINESS WIRE)-- OrsoBio, Inc., a clinical-stage biopharmaceutical company developing treatments for severe metabolic disorders, today announced its acquisition of an ACMSD inhibitor program from Mitobridge, an Astellas Company.The program includes a range of proprietary compounds being evaluated for their potential to address mitochondrial dysfunction in metabolic and . We are grateful for the tremendous support and guidance from Astellas, MPM Capital, and Longwood Fund that enabled Mitobridge to rapidly build an exciting pipeline," said Kazumi Shiosaki, Ph.D., President & CEO, and co-founder of Mitobridge. Tokyo-based Astellas Pharma is buying Cambridge, Mass.-based Mitobridge for a total of $390 million. Mitobridge will become a wholly-owned subsidiary of Astellas. We are grateful for the tremendous support and guidance from Astellas, MPM Capital, and Longwood Fund that enabled Mitobridge to rapidly build an exciting pipeline," said Kazumi Shiosaki, Ph.D., President & CEO, and co-founder of Mitobridge. In addition, Mitobridge shareholders will be eligible for additional payments from Astellas that total up to $225 million2 depending on the progress of various programs in clinical development. Astellas Pharma Inc., based in Tokyo, Japan, is a company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. held by Mitobridge is $161.7 million. The Company was founded in 2011 with seed financing from MPM Capital. The amount assumes the current Astellas' shares on a fully diluted basis. ", "We at Mitobridge are delighted to become part of Astellas' major initiative to develop new therapies for serious diseases. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. By exercising the option right according to the amended agreement, Astellas will pay an upfront fee of $225 million (2) to acquire Mitobridge. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties. The company will share preclinical data at The Liver Meeting. Whilst multi-system involvement is often evident, neurological manifestation is the principal presentation in most cases. (1) Corporate Name: Mitobridge, Inc. As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge shareholders will be $165.5 million. Astellas is on the forefront of healthcare change to turn innovative science into value for patients. The Company is progressing innovative approaches to the treatment of diseases with high unmet medical need with the strategy to establish proof of concept in rare diseases and then expand into more common diseases. The amount will be adjusted depending on the cash and cash equivalents etc. Please read our privacy policy for more information on the cookies we use, the processing of your personal data and how to delete or block the use of cookies. Coenzyme Q (CoQ) lipids are ancient electron carriers that, in eukaryotes, function in the mitochondrial respiratory chain. Astellas Completes Acquisition of Mitobridge, Inc. Mitobridge Adds NAD Modulation as a Therapeutic Approach for Improving Mitochondrial Function, Mitobridge Announces Sponsored Research Agreement to Evaluate PPAR Compounds in Cells from Patients with Mitochondrial Disease, Mitobridge Secures Key Intellectual Property from the Salk Institute, Astellas and Mitokyne to Pursue Mitochondria-Related Disease Therapies, 63rd American Society of Hematology (ASH) Annual Meeting, American Chemical Society (ACS) Meeting Fall 2021, American Society of Nephrology (ASN) Kidney Week 2019; Washington, DC, Poster Presentation ASN Conference, San Diego, October 2018, Mitobridge Poster presentation at American Chemical Society Meeting, Boston, August 2018, American Society of Nephrology (ASN) Kidney Week 2017; New Orleans, LA, INFORM: International Network for Fatty Acid Oxidation Research and Management; Rio de Janeiro, Brazil, Medicinal Chemistry: Gordon Research Conference; New London, NH, PPMD: 2017 Connect Conference; Chicago, IL, UMDF: 2017 Scientific Program Mitochondrial Medicine; Washington, DC, Euromit 2017: International Meeting on Mitochondrial Pathology; Cologne, Germany, Targeting acute kidney injury in COVID-19, Addressing hERG activity while maintaining favorable potency, selectivity and pharmacokinetic properties of PPAR modulators, Mitobridge; Highly selective peroxisome proliferator-activated receptor d (PPARd) modulator demonstrates improved safety profile compared to GW501516, Mitobridge; Selective PPAR Modulators Improve Mitochondrial Function:Potential Treatment for Duchenne Muscular Dystrophy (DMD), Mitobridge; Novel highly selective inhibitors of ubiquitin specific protease 30 (USP30) accelerate mitophagy, Mitobridge; Novel highly selective peroxisome proliferator-activated receptor d (PPARd) modulators with pharmacokinetic properties suitablefor once-daily oral dosing, Discovery and characterization of selective small molecule inhibitors of the mammalian mitochondrial division dynamin, DRP1, Novel highly selective peroxisome proliferator-activated receptor (PPAR) modulators with pharmacokinetic properties suitable for once-daily oral dosing, A Novel Mitophagy Assay for Skeletal Myotubes. This is Astellas Pharma's 6th transaction in the Life Science sector. Astellas is pulling the trigger on an acquisition option from a partnership deal the two companies formed in 2013. Acquisition Summary (1) Acquiring company: Astellas Pharma Inc. (2) Major shareholders of Mitobridge: MPM Capital, Longwood Funders Fund, Astellas Pharma Inc. (3) Payment: Cash on hand (4) Amount: $225 million* to make Mitobridge a wholly-owned subsidiary of Astellas . By exercising the option right to acquire Mitobridge, Astellas paid $225 million1 to acquire 100% of the equity in Mitobridge. Nothing contained herein should be considered a solicitation, promotion or advertisement for any drug including those under development. In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. The multiple clinical phenotypes and the. "Through the acquisition of Mitobridge, Astellas accelerates our investment in diseases caused by mitochondria dysfunctions in order to deliver innovative new treatment options to patients." By exercising the option right according to the amended agreement, Astellas will pay an upfront fee of $225 million to acquire Mitobridge. About Astellas OrsoBio, Inc., a clinical-stage biopharmaceutical company developing treatments for severe metabolic disorders, today announced its acquisition of an ACMSD inhibitor program from Mitobridge, an . Mitobridge will become a wholly-owned subsidiary of Astellas following the close of the acquisition. TOKYO, Jan. 23, 2018 /PRNewswire/ -- Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka, "Astellas" ) today announced that it has completed the acquisition of Mitobridge, Inc. ("Mitobridge"), and Mitobridge has become a wholly owned subsidiary ofAstellas as of January 23, 2018 (U.S. Eastern Time). The Company was founded in October of 2013 with . Under the 2013 partnership agreements, Astellas and Mitobridge have collaborated to discover and develop compounds that target mitochondrial function. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. TOKYO and CAMBRIDGE, Mass., Nov. 30, 2017 /PRNewswire/ -- Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka, "Astellas") and Mitobridge, Inc.1 (President and CEO: Kazumi Shiosaki, "Mitobridge") today announced that Astellas has exercised its exclusive option right to acquire Mitobridge under the amended terms of the October 2013 partnership agreement governing an R&D collaboration focused on discovering and developing novel drugs that target mitochondrial function. The amount assumes the current Astellas' shares on a fully diluted basis. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties.Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice. TOKYO, Jan. 23, 2018 /PRNewswire/ -- Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka, "Astellas" ) today announced that it has completed the acquisition of Mitobridge, Inc. ("Mitobridge"), and Mitobridge has become a wholly owned subsidiary ofAstellas as of January 23, 2018 (U.S. Eastern Time). Up to $225 million* in future contingent payments based on the advances in clinical programs OrsoBio Announces Acquisition of LXR Inverse Agonist Program for Treatment of Severe Dyslipidemias from Phenex Pharmaceuticals November 2, 2022 . By exercising the option right according to the amended agreement, Astellas will pay an upfront fee of $225 million2 to acquire Mitobridge. The closing of the acquisition is subject to customary regulatory approvals, and is expected to be finalized in the next several weeks. The deal was made Tokyo based Astellas Pharma Inc. recently announced the acquisition of Mitobridge, Inc. Astellas paid $225 million to acquire 100 per cent of the equity in Mitobridge. Mitobridge is developing drug candidates that are directed at multiple points in the NAD+biosynthetic and metabolic pathway. This is Astellas Pharma's 4th transaction in the United States. Conclusions. As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge shareholders after adjustment based on the estimate of cash and cash equivalents etc. About Astellas The deal is the end result of a 2013 collaboration between Astellas and Mitobridge, previously known as Mitokyne. The Company was founded in 2011 with seed financing from MPM Capital. (5) Expected timing of closing: Next several weeks, subject to customary regulatory approvals, Overview of Acquired Company(1) Corporate Name: Mitobridge, Inc.(2) Location: Cambridge, MA(3) Representative: President & CEO Kazumi Shiosaki(4) Founded year: 2011(5) Number of employees: 27(6) Relationship with Astellas: Equity-method affiliate, research and development partner. The amount will be adjusted depending on the cash and cash equivalents etc. For more information, please visit our website at https://www.astellas.com/en. The largest life science acquisition in 2017 was Actelion - which was acquired by Johnson & Johnson for $30.0B. Astellas shelled out $225 million to acquire 100% of the equity in Mitobridge. (3) Representative: President & CEO Kazumi Shiosaki (2) As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge will be $165.5 million. | August 13, 2022 The impact of this transaction on Astellas' financial results for the fiscal year ending March 31, 2018 will be immaterial. Astellas and Mitobridge. Under the 2013 partnership agreements, Astellas and Mitobridge have collaborated to discover and develop compounds that target mitochondrial function. The transaction accelerates Astellas' research and development in diseases associated with mitochondrial dysfunctions and will enable the delivery of innovative new treatment options to patients. By exercising the option right to acquire Mitobridge, Astellas paid $225 million 1 to acquire 100% of the equity in Mitobridge. In addition, Mitobridge shareholders will be eligible for additional payments from Astellas that total up to $225 million2 depending on the progress of various programs in clinical development. For more information, please visit our website at https://www.astellas.com/en. Mitobridge Inc. was founded in 2013 with financing from MPM Capital, Longwood Fund, and Astellas Pharma's Venture Management team, all sharing a vision for the promise of mitochondrial-targeted therapeutics. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. PALO ALTO, Calif.-- (BUSINESS WIRE)-- OrsoBio, Inc., a clinical-stage biopharmaceutical company developing treatments for severe metabolic disorders, today announced its acquisition of an ACMSD. (2) As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge will be $165.5 million. In addition, Mitobridge shareholders will be eligible for additional payments from Astellas that total up to $225 million depending on the progress of various programs in . -- Company to share preclinical data on TLC-065 at The Liver Meeting--. Astellas Pharma has completed its previously announced acquisition of Mitobridge, a Cambridge, Massachusetts-headquartered company developing small-molecule therapeutics that improve mitochondrial functions, for up to $450 million. In addition, Mitobridge shareholders will be eligible for additional payments from Astellas that total up to $225 million2 depending on the progress of various programs in clinical development. We focus on Urology, Oncology, Immunology, Nephrology and Neuroscience as prioritized therapeutic areas while advancing new therapeutic areas and discovery research leveraging new technologies/modalities. Astellas Acquires Mitobridge Under Existing Collaboration, - Accelerating the Discovery and Development of Novel Drugs that Target Mitochondrial Functions -, For further information: Astellas Pharma Inc., Corporate Communications, TEL: +81-3-3244-3201 FAX: +81-3-5201-7473, California Declaration of Comprehensive Compliance Program, Vermonts Pharmaceutical Marketer Price Disclosure, Wholesale Acquisition Cost Information for Colorado Prescribers, Consumer Product Safety Commission Regulations, Understanding the Gastric and GEJ Cancer Landscape. We focus on Urology, Oncology, Immunology, Nephrology and Neuroscience as prioritized therapeutic areas while advancing new therapeutic areas and discovery research leveraging new technologies/modalities. Mitobridge shareholders will potentially receive additional payments of up to $225m from Astellas based on the progress of clinical development programmes. This website contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, or in different dosages. We are also creating new value by combining internal capabilities and external expertise in the medical/healthcare business. If you are not a reporter and need assistance, please visit our contact us page that includes information for patients, healthcare providers and researchers. Mitobridge has assembled a strong team with expertise in advancing ground-breaking therapeutics into the clinic. Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice. The program includes a range of proprietary compounds being . (1) The name of Mitokyne, Inc. was changed to Mitobridge, Inc.(2) As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge will be $165.5 million. Mitobridge is discovering and developing small molecule therapeutics that enhance mitochondrial function and that build upon the emerging scientific findings linking mitochondrial dysfunction with disease pathologies. MA-0211, the most advanced program emerging from the collaboration, is currently in Phase 1 clinical studies for Duchenne Muscular Dystrophy (DMD). Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties. OrsoBio, Inc., a clinical-stage biopharmaceutical company developing treatments for severe metabolic disorders, today announced its acquisition of an ACMSD inhibitor program from Mitobridge, an Astellas Company. These drug candidates have the potential to treat genetic, metabolic or neurodegenerative . As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge shareholders after adjustment based on the estimate of cash and cash equivalents etc. About AstellasAstellas Pharma Inc., based in Tokyo, Japan, is a company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. This website is intended for U.S. residents only. About Mitobridge (fka Mitokyne)Mitobridge is discovering and developing small molecule therapeutics that enhance mitochondrial function and that build upon the emerging scientific findings linking mitochondrial dysfunction with disease pathologies. Our communications team will respond to verified media requests within 24-48 hours as appropriate. By exercising the option right to acquire Mitobridge, Astellas paid $225 million1 to acquire 100% of the equity in Mitobridge. held by Mitobridge is $161.7 The amount is subject to further true-up based on actual numbers as of the closing date. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. , https://www.mitobridge.com/news/publications, '+s8_15+s8_19+s8_4+s8_5+s8_18+s8_6+s8_22+s8_14+s8_2+s8_36+s8_16+s8_12+s8_8+s8_18+s8_5+s8_6+s8_12+s8_7+s8_10+s8_9+s8_37+s8_21+s8_18+s8_16+', Generian and Astellas Enter into Collaboration and Exclusive License Agreement to Discover and Develop Novel Small Molecules For Undruggable Targets, Astellas Providing Hope for People Living with Primary Mitochondrial Myopathy, U.S. FDA Grants Fast Track Designation for ASP0367/MA-0211, a Selective PPAR Modulator Being Developed for the Treatment of Primary Mitochondrial Myopathies, U.S. FDA Grants Fast Track Designation to Astellas for the Development of ASP1128 for Patients at Risk for Acute Kidney Injury. The closing of the acquisition is subject to customary regulatory approvals, and is expected to be finalized in the next several weeks. $6.5M Grant Awarded to Develop Treatment for Alcoholic Liver DiseaseAssociated Kidney Dysfunction University of Maryland School of Medicine's Institute of Human Virology and MitoPower to Initiate Studies Baltimore, MD and Palo Alto, CA November 9, 2021 The Institute of HumanVirology (IHV) at the University of Maryland School of Medicine and MitoPower LLC("MitoPower") were [] By exercising the option right to acquire Mitobridge, Astellas paid $225 million1 to acquire 100% of the equity in Mitobridge. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. We are also creating new value by combining internal capabilities and external expertise in the medical/healthcare business. Mitobridge will be eligible for additional payments that total up to $225 million2, depending on the progress of various programs in clinical development. By exercising the option right to acquire Mitobridge, Astellas paid $225 million1 to acquire 100% of the equity in Mitobridge. OrsoBio Acquires ACMSD Inhibitor Program to Address Mitochondrial Dysfunction from Mitobridge, an Astellas Company Wednesday, November 02, 2022 OrsoBio, Inc., a clinical-stage biopharmaceutical company developing treatments for severe metabolic disorders, today announced its acquisition of an ACMSD inhibitor program from Mitobridge, an Astellas . The amount assumes the current Astellas' shares on a fully diluted basis. Mitobridge was . A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. (1) Acquiring company: Astellas Pharma Inc. By exercising the option right to acquire Mitobridge, Astellas paid $225 million(1) to acquire 100% of the equity in Mitobridge. The amount will be adjusted depending on the cash and cash equivalents etc. held by Mitobridge at the closing. Under the terms of the agreements, Galapagos is to acquire all outstanding shares of CellPoint and AboundBio in an all-cash transaction against payment of an upfront amount of 125 million for. One day out of stealth, Yale University spinout, OrsoBio, announces an acquisition of an ACMSD inhibitor program from Mitobridge, Inc., an Astellas Pharma US company to address metabolic and . At this point, Astellas will maintain the organization in Cambridge, MA, and retain the Mitobridge name as a division of Astellas. This website contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, or in different dosages. 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