Astellas to acquire Propella Therapeutics and with it PRL 02 a next-generation androgen biosynthesis inhibitor to treat Prostate Cancer
Astellas Pharma Inc. and Propella Therapeutics, Inc announced that Astellas, through a U.S. subsidiary, and Propella have entered into a merger agreement pursuant to which Astellas will acquire Propella.
Propella is a privately held biopharmaceutical company that has leveraged a wholly owned proprietary platform that combines medicinal chemistry with lymphatic targeting to create new oncology drugs. Through the acquisition of Propella, Astellas will acquire PRL 02 (abiraterone decanoate), a next-generation androgen biosynthesis inhibitor being developed by Propella to treat prostate cancer. PRL 02 is a novel, long-acting prodrug of abiraterone that, following intramuscular injection, is expected to achieve high concentrations in target tissues where the active moiety, abiraterone, is continuously released. PRL 02 may provide improved efficacy and safety compared to existing treatment options by high CYP17 lyase inhibition selectivity. PRL 02 is currently in a Phase 1 clinical trial and is expected to enter Phase IIa clinical trials in 2024.
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