Astellas Acquires Propella Therapeutics for ~$175M
Shots:
- Both Astellas and Propella have entered into a merger agreement as per which Astellas has reported the acquisition of Propella
- Under the terms of the agreement, Astellas will pay an aggregate of ~$175M to acquire all the outstanding common stocks and equity interests in Propella. The transaction is expected to occur during FY Mar 31st 2024
- Following the acquisition, Propella's androgen biosynthesis inhibitor, PRL-02, which is currently being evaluated in a P-I clinical trial for the treatment of prostate cancer, will come under the purview of Astellas. PRL-02 is expected to enter P-IIa trial in 2024
Ref: PR Newswire | Image: Propella
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Shivani is a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
