Astellas Announces Acquisition of Quethera
Acquisition furthers Astellas’ commitment to innovation in ophthalmology with addition of novel gene therapy program…read more
Quethera is a gene therapy company dedicated to improving the future treatment of common blinding eye diseases. The initial focus is on developing therapies to reduce progressive visual loss in glaucoma and other conditions affecting the optic nerve. Quethera is working alongside world leaders in the glaucoma field to design clinical trials capable of examining the efficacy and safety of novel therapies in patients who lose parts of their visual field at an accelerated rate (fast-progressors). The company has expertise in gene therapeutic design and development sufficient to progress its pipeline through preclinical testing and into clinical development.
On 10 August 2018, Japanese Astellas Pharma bought privately-owned biotech Quethera for $109 million, gaining access to its gene therapy focused on developing novel treatments for glaucoma and eye disorders.
Midven’s UK Innovation & Science Seed Fund (UKI2S) was the founding investor with follow-on, co-investment from Cambridge Enterprise.
Under the terms of the purchase agreement, Astellas may pay up to $109 million in aggregate consideration (upfront and contingent payments) to Quethera shareholders to acquire Quethera. The full announcement may be found here.
Associated Fund UK Innovation & Science Seed Fund
Sector Medical / Biotechnology
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