Astellas Pharma, the second largest Japanese pharma firm after Takeda, plans on scooping up the biopharma Iveric Bio for roughly $1.7 billion. Iveric focuses on discovering and developing novel therapies for retinal diseases, for approximately $1.7 billion.
Astellas believes the acquisition of Iveric Bio will strengthen its standing in the ophthalmology market, by adding the latter’s pipeline products to its portfolio. The companies expect the deal to close in the third quarter of 2023.Zimura, a potential geographic atrophy breakthrough
The centerpiece of the Astellas-Iveric Bio deal is the drug candidate, Zimura (avacincaptad pegol), which is now in phase 3 clinical trials for geographic atrophy. The condition trails age-related macular degeneration (AMD) as a leading cause of irreversible blindness among the elderly. Geographic atrophy is an advanced form of the disease. No therapies are now approved to treat the condition.
Zimura, inhibitor of …