Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Astellas buys private UK gene therapy company specializing in treating glaucoma

The gene therapy company focuses on developing treatments for glaucoma
eye treatment
Astellas is a Japanese pharmaceutical company producing innovative pharma products

Astellas Pharma Inc (OTC:APLMF) (SE:4503) announced on Friday it is buying privately held Quethera, a gene therapy company focused on developing treatments for eye disease, especially glaucoma.

Japan's Astellas acquired UK-based Quethera's program using a recombinant system which introduces therapeutic genes into target retinal cells to treat glaucoma, a disease that damages the eye's optic nerve from a buildup of fluid in the front part of the organ. Glaucoma is the leading cause of blindness for people over 60 years old, according to the American Academy of Opthalmology.

Astellas president and chief executive Kenji Yasukawa said the deal "would address a high unmet medical need in glaucoma patients who are at risk of losing their eyesight."

Shares of Astellas in Tokyo ended on Friday at 1,853 yen, off 0.4%, and having hit a session high of 1,862 yen, just short of the 52-week high of 1,869 yen.

In the US OTC market, Astellas shares finished on Thursday down 0.2% at US$16.62.

Under the terms of the agreement, Astellas may pay up to 85 million pounds (US$108.5mln) to Quethera shareholders in buying the company. Upon closing the transaction, Quethera becomes a wholly owned subsidiary of Astellas.

The impact of the transaction on Astellas' financial results for the fiscal year ending on March 31, 2019, is "expected to be immaterial," according to Astellas.

Astellas is based in Tokyo, Japan, which develops pharmaceutical products. Quethera is based in Cambridge, UK. It focuses on the treatment of diseases that blind people. 

Contact Rene Pastor at [email protected]

 

View full ALPMF profile View Profile

Astellas Pharma Timeline

Related Articles

Oncoprex
Wed
The biotech was founded by an investment group led by scientists and driven by a no-nonsense CEO whose stake is more than just business as usual
picture of cannabis plants
March 23 2018
Control of the supply chain offers operational advantages and financial benefits.
scientist in lab
August 31 2018
While the data bodes well for MTD201, Midatech is most excited by the validation of its Q-Sphera sustained release technology, which it is using in some of its other compounds

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use