Astellas and PeptiDream Enter into Research Collaboration and License Agreement to Discover Novel Targeted Protein Degraders

Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) and PeptiDream Inc. (TSE: 4587, President and CEO: Patrick C. Reid, “PeptiDream”) today announced a research collaboration and license agreement to discover novel protein degraders for two targets selected by Astellas. Under the agreement between the two companies, Astellas will have the option to select up to three additional targets to be included in the collaboration.

Astellas focuses on targeted protein degraders directed to undruggable targets that are difficult to approach with conventional technologies. Under the terms of the agreement, the companies plan to combine PeptiDream’s PDPS (Peptide Discovery Platform System) technology^*1 with Astellas’ drug discovery capabilities to discover multiple next-generation protein degraders targeting diverse targets that go beyond existing technologies. Astellas will be responsible for the development and commercialization of products created from this collaborative research.

Astellas will provide PeptiDream with an upfront payment of ¥3.0 billion. PeptiDream is eligible to receive discovery, development and commercial sales milestones of up to ¥20.6 billion per target. PeptiDream is also eligible to receive single-digit percent royalty payments on net sales of any products arising from the collaboration.

Adam Pearson, Chief Strategy Officer, Astellas
“Targeted Protein Degradation is one of the Primary Focuses of Astellas^*2. We hope this collaboration will bring synergies between the two companies’ cutting-edge research and will ultimately lead to the expansion of Astellas’ portfolio and development of new therapeutics for patients with significant unmet medical needs.”

Keiichi Masuya, Chief Operating Officer, PeptiDream
“This transaction further validates the potential of our PDPS technology to obtain highly selective peptides, which enables creative approaches in the area of targeted protein degraders. We believe that through this research collaboration, we can leverage the strengths of both companies to advance the development of innovative drugs.”

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