The range of alternatives that will be assessed could include minority investment or strategic alliance, a merger or sale of some or all of Prosidion’s assets.
Oxford-based Prosidion is a biopharmaceutical company, focused on discovering, developing and commercializing innovative molecular targeted therapies addressing major unmet medical needs in type 2 diabetes and obesity.
Prosidion is currently developing two drug candidates for diabetes and obesity, as well as a patent estate relating to the use of dipeptidyl peptidase IV (DPP-IV) inhibitors for the treatment of type 2 diabetes.
Tokyo-based Astellas CEO Yoshihiko Hatanaka said a strategic transaction with some or all of Prosidion’s assets may provide the greatest return for Astellas’ shareholders.