Astellas Completes Acquisition Of Propella Therapeutics

Astellas Pharma Inc. has successfully completed the acquisition of Propella Therapeutics, Inc., making Propella a wholly-owned subsidiary of Astellas as of December 21, 2023. The acquisition includes obtaining Propella's innovative androgen biosynthesis inhibitor, PRL-02 (abiraterone decanoate), designed for the treatment of prostate cancer. PRL-02, a novel, long-acting prodrug of abiraterone, is expected to achieve high concentrations in target tissues, providing a continuous release of the active moiety. This mechanism may enhance efficacy and safety compared to current treatments due to high CYP17 lyase inhibition selectivity. Currently in Phase 1 clinical trials, PRL-02 is anticipated to enter Phase 2a clinical trials in 2024. Astellas paid approximately US $175 million for the acquisition, and the impact on Astellas' financial results for the fiscal year ending March 31, 2024, is expected to be limited. The acquisition positions Astellas for advancements in prostate cancer treatment and underscores its commitment to innovative therapies.

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