Japan-based Astellas Pharma is dropping nearly $3 billion in cash to scoop up San Francisco’s Audentes Therapeutics.
Astellas said the high-priced move was motivated by its interest in making gene therapies a key area of growth for the company. As part of the deal, Astellas will acquire Audentes’ platform technology, manufacturing capabilities and entire portfolio, which includes gene therapies in development for rare diseases such as Duchenne muscular dystrophy and Pompe disease.
Astellas is Japan’s second largest drugmaker, but the Audentes buy is its first major move in the gene therapy space. Gene therapies will now become the fifth primary focus for Astellas, which has a robust portfolio of treatments for immuno-oncology, regenerative, and neuromuscular drugs.
Read the full Reuters report.
