Astellas enters into definitive agreement to acquire Audentes Therapeutics

Astellas Pharma Inc and Audentes Therapeutics, Inc have entered into a definitive agreement for Astellas to acquire Audentes at a price of $60 per share in cash, representing a total equity value of approximately $3 billion.

“Recent scientific and technological advances in genetic medicine have advanced the potential to deliver unprecedented and sustained value to patients and even to curing diseases with a single intervention,” said Kenji Yasukawa, President and CEO, Astellas. “Audentes has developed a robust pipeline of promising product candidates which are complementary to our existing pipeline, including its lead program AT132 for the treatment of X-Linked Myotubular Myopathy (XLMTM). By joining together with Audentes’ talented team, we are establishing a leading position in the field of gene therapy with the goal of addressing the unmet needs of patients living with serious, rare diseases.”

The companies have highlighted the following strategic significance of this acquisition:

• Access to the near-term growth opportunity of AT132, in development for the treatment of XLMTM, a serious, life-threatening, rare neuromuscular disease that is characterised by extreme muscle weakness, respiratory failure and early death
• Acceleration of the development of a robust pipeline of potentially best-in-class genetic medicines for rare neuromuscular diseases, by combining Astellas’ scientific capabilities and global resources with Audentes’ AAV gene therapy technology platform, in-house large-scale cGMP manufacturing and neuromuscular development expertise
• Creating the opportunity for additional gene therapy partnerships and pipeline expansion through leveraging Audentes’ manufacturing capabilities and its valued relationships with patient groups, academic collaborators and scientific advisors.

“We are very pleased to enter into this merger agreement with Astellas,” added Matthew R. Patterson, Chairman and Chief Executive Officer of Audentes. “With its focus on innovative science and a global network of research, development and commercialisation resources, we believe that operating as part of the Astellas organisation optimally positions us to advance our pipeline programs and serve our patients.”