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Astellas Completes Acquisition of Audentes Therapeutics

03:00 EST 16 Jan 2020 | Astellas Pharma Inc.

- Combined company positioned to become a global leader in AAV-based genetic medicines, with Audentes to operate as a wholly-owned subsidiary and Center of Excellence for Astellas’ newly created Genetic Regulation Primary Focus
- Natalie C. Holles appointed President and Chief Executive Officer of Audentes

TOKYO and San Francisco, January 15, 2020 - Astellas Pharma Inc. (TSE: 4503, President and Chief Executive Officer: Kenji Yasukawa, Ph.D., “Astellas”) today announced that it has successfully completed the previously announced acquisition of Audentes Therapeutics, Inc. (“Audentes”), through a tender offer by its indirect wholly-owned subsidiary Asilomar Acquisition Corp. (“Asilomar”) for all of the issued and outstanding shares of common stock of Audentes for a price of US$60.00 per share net to the seller in cash (“Tender Offer”) and the subsequent merger of Asilomar with and into Audentes. Astellas commenced the Tender Offer on December 16, 2019, New York City time, and the Tender Offer expired at 12:00 midnight, New York City time, at the end of the day on January 14, 2020. As of the expiration of the Tender Offer, 35,852,857 shares of Audentes common stock were validly tendered and not properly withdrawn, representing approximately 76.7% of the shares of Audentes common stock outstanding, and such shares have been accepted for payment under the terms of the Tender Offer. The acquisition positions the combined company to become a global leader in AAV-based genetic medicines.

“The Audentes team is comprised of highly talented individuals with world-class expertise in AAV-based genetic medicines manufacturing, research and development, and commercialization,” said Kenji Yasukawa, President and CEO, Astellas. “We look forward to working with Audentes to accelerate and expand our efforts in genetic medicines, and to leverage this innovative science to create significant value for patients.”

Within Astellas, Audentes will operate as a wholly-owned subsidiary, and will serve as the Center of Excellence for the newly created Genetic Regulation Primary Focus, providing leadership for AAV pipeline advancement through commercialization, manufacturing expansion, and next-generation research initiatives. Effective immediately, Natalie C. Holles has been appointed President and Chief Executive Officer of Audentes.

“Today marks the start of an exciting new chapter for Audentes. By joining the Astellas group of companies, we are confident we can achieve our mandate to expand the breadth and scope of our work to new geographies and patient populations,” stated Natalie C. Holles, President and Chief Executive Officer, Audentes. “Now backed by the substantial resources and global footprint of Astellas, we remain focused on achieving our goal of submitting a Biologics License Application (BLA) for AT132 for the treatment of X-linked Myotubular Myopathy to the U.S. Food and Drug Administration later this year, advancing the new combined pipeline, and building a world-class genetic medicines company.”

Astellas is currently reviewing the impact that the completion of the transactions described above may have on its consolidated business forecast for the current fiscal year and will make any necessary disclosure in accordance with applicable requirements.

 

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Original Article: Astellas Completes Acquisition of Audentes Therapeutics

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