Tokyo based Astellas Pharma Inc. recently announced the acquisition of Mitobridge, Inc. Astellas paid $225 million to acquire 100 per cent of the equity in Mitobridge. In addition, Mitobridge shareholders will be eligible for additional payments from Astellas that total up to $225 million depending on the progress of various programs in clinical development.

Astellas is dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products focusing on Urology, Oncology, Immunology, Nephrology and Neuroscience as prioritized therapeutic areas.

The transaction accelerates Astellas' research and development in diseases associated with mitochondrial dysfunctions and will enable the delivery of innovative new treatment options to patients. At this point, Astellas will maintain the organization in Cambridge, Massachusetts, and retain the Mitobridge name as a division of Astellas.