Astellas swoops in on a mid-stage drug for hot flashes in $860M biotech buyout deal
Three months after the Belgian biotech Ogeda reported solidly positive data from a Phase IIa study of its experimental, non-hormonal therapy for hot flashes related to menopause, the company is being bought out with a hefty cash payment of €500 million along with a commitment for €300 million more in milestones (or about $860 million total).
Japan’s Astellas has swooped in to make the buyout, obviously impressed with data that showed a 93% reduction in hot flashes for the fezolinetant group at week 12 compared to 54% on placebo. The reduction in severity of hot flashes at week 12 was 70% for the drug arm and 23% in the placebo group.
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