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TOKYO, July 26, 2017 /PRNewswire/ -- Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka, "Astellas") announced today that it is winding down its Agensys research operations in Santa Monica, California, USA, to further refine its oncology strategy by expanding its investment in the research in new technologies and modalities and reducing its focus on Antibody-Drug Conjugate (ADC) research.
"Agensys has positively contributed to Astellas' objective of developing innovative treatments for patients with cancer," said Wataru Uchida, Ph.D., senior vice president, Drug Discovery Research (DDR), Astellas. "The team has provided post-Proof of Concept compounds and antibody-related technology that have been incorporated into our promising oncology pipeline. Yet, the field of research has evolved and led to a new frontier of treatment options. Expanding our investment in this new area of research and development will be critically important and help us to better address high unmet medical needs, as well as deliver innovative benefits to patients in the fight against many types of cancers."
The field of oncology is ever evolving, and Astellas believes that its research focus also needs to evolve in order to continue to be successful in developing potential therapies to help patients. Astellas continuously evaluates its operations and investment programs to ensure it is optimizing its resources and research capabilities.
Astellas will continue certain clinical trials and collaborations on ADC programs that have been in progress at Agensys, including its collaboration with Seattle Genetics, Inc.
Astellas plans to complete the wind-down of Agensys research operations in the first quarter of calendar 2018. Astellas is still reviewing the impact of this development on its financial forecasts for the fiscal year ending March 31, 2018.
Astellas Pharma Inc., based in Tokyo, Japan, is a company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. We focus on Urology, Oncology, Immunology, Nephrology and Neuroscience as prioritized therapeutic areas while advancing new therapeutic areas and discovery research leveraging new technologies/modalities. We are also creating new value by combining internal capabilities and external expertise in the medical/healthcare business. Astellas is on the forefront of healthcare change to turn innovative science into value for patients. For more information, please visit our website at www.astellas.com/en.
In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties.
Information about pharmaceutical products (including products currently in development) which are included in this press release is not intended to constitute an advertisement or medical advice.
SOURCE Astellas Pharma Inc.
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