Astellas to acquire Audentes for $3 billion
Biopharma's appetite for smaller gene therapy developers has not yet been sated. Yesterday evening, Japanese drug maker Astellas said it was acquiring Audentes Therapeutics for $3 billion.
The all-cash transaction values San Francisco-based Audentes at $60 per share — a 109% premium over its Monday closing price of $28.61.
Audentes’ lead program is a gene therapy for X-Linked Myotubular Myopathy, an ultra-rare, inherited condition characterized by serious muscle weakness and respiratory problems that often causes death in early childhood. Last year, Astellas’ new CEO Kenji Yasukawa pledged to boost the company’s investment in gene and cell therapies for eye disease, cancer and other rare, inherited disorders.
The all-cash transaction values San Francisco-based Audentes at $60 per share — a 109% premium over its Monday closing price of $28.61.
Audentes’ lead program is a gene therapy for X-Linked Myotubular Myopathy, an ultra-rare, inherited condition characterized by serious muscle weakness and respiratory problems that often causes death in early childhood. Last year, Astellas’ new CEO Kenji Yasukawa pledged to boost the company’s investment in gene and cell therapies for eye disease, cancer and other rare, inherited disorders.
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