Astellas and CoMentis to End Agreement to Collaborate on Research, Development and Commercialization of Beta-Secretase Inhibitors for Alzheimer’s Disease
Tokyo, Japan & South San Francisco CA, October 16, 2014 –Astellas Pharma Inc. (TSE: 4503) and CoMentis, Inc. today announced the companies will end their worldwide exclusive collaboration agreement for research, development and commercialization of beta-secretase inhibitors for Alzheimer’s disease, signed in 2008. Astellas has exercised its right to terminate the collaboration agreement, based on the outcome of the research and development collaboration. Upon the effective date of termination, Astellas will return to CoMentis all rights granted under the collaboration agreement. Astellas has recognized impairment losses on other intangible asset of 8.1 billion yen in the first three months of the current fiscal year (from April 1, 2014 to March 31, 2015).
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About Astellas
Astellas Pharma Inc., located in Tokyo, Japan, is a pharmaceutical company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceuticals. Astellas has approximately 18,000 employees worldwide. The organization is committed to becoming a global category leader in Urology, Immunology (including Transplantation) and Infectious Diseases, Oncology, Neuroscience and DM Complications and Kidney Diseases. For more information on Astellas Pharma Inc., please visit the company website at www.astellas.com/en.
About CoMentis
CoMentis, Inc., a biotech company, engages in the research, discovery, and development of small-molecule drugs to treat neurovascular diseases , with a focus on Alzheimer’s disease and Schizophrenia. The company advanced the first beta-secretase inhibitor into the clinic for the treatment of Alzheimer’s disease in 2006. The current focus of the company is in the development of nicotinic acetylcholine receptor modulators for the treatment of cognitive disorders. CoMentis, Inc. was founded in 2004 and is based in South San Francisco, California. For more information on CoMentis, please visit the company website at www.comentis.com.
Contacts:
Astellas Contact:
Corporate Communications
TEL: +81-3-3244-3201, FAX: +81-3-5201-7473
http://www.astellas.com/en br>
CoMentis Contact:
Daniel Hunt
General Counsel and VP Alliance Management
650 210 6160
www.comentis.com
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