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news.Astellas Pharma and Drais Pharmaceuticals have collaborated to develop and commercialize second Astellas compound through Seldar Pharma.
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As per the agreement, Astellas will transfer ownership of ASP7147, a bombesin BB2 receptor antagonist for the treatment of irritable bowel syndrome with diarrhea, to Seldar Pharma.
Seldar, a virtual company that will be operated by the Drais executive team, will be responsible for all development, manufacturing and commercialization activities and their associated costs.
Astellas is eligible to receive a milestone payment and royalties on future sales of ASP7147, has the right of first exclusive negotiation for future partnering activities related to ASP7147 and the right of first refusal for the Japanese market.
The Astellas also has the right of non- exclusive negotiation for other markets.