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Astellas Acquires Propella Therapeutics for ~$175M

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Astellas Acquires Propella Therapeutics for ~$175M

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  • 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

Related News:- Propella Signs a License Agreement with Jiangsu Aosaikang to Develop and Commercial CGS-200-5 for the Treatment of Pain in Greater China

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Shivani Chandra

Shivani was a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She was covering news related to Product approvals, clinical trial results, and updates. We can be contacted at connect@pharmashots.com.

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