Japan’s Astellas Pharma has completed its acquisition of Belgian drug discovery company Ogeda – formally known as Euroscreen.
Ogeda has now become a wholly owned subsidiary of Astellas.
Under the share purchase agreement, Astellas paid EUR 500 million to acquire 100% of the equity in Ogeda.
In addition, Ogeda shareholders will become eligible to receive up to EUR 300 million in further contingent payments based on progress in the development of fezolinetant – Ogeda’s most advanced clinical program for the treatment of menopausal-related vasomotor symptoms.
Astellas said the transaction expands its late stage pipeline. It is also expected to contribute to its mid-to-long term growth.