Wednesday, November 14, 2012

A set back for the GPR 119 agonist class - AstraZeneca decides not to exercise its exclusive option to acquire Astellas Phase 2 pipeline candidate PSN821 ( GPR119 agonist )

Astellas received Notice from AstraZeneca that it is not going to Exercise the Option to Acquire Diabetes Assets from Prosidion, a Subsidiary of Astellas. The diabetes assets include Phase II clinical and pre-clinical assets, PSN821 and PSN842 respectively, for the treatment of type 2 diabetes. Both PSN821 and PSN842 are orally administered G protein-coupled receptor GPR119 agonists, a potential new class of medicines for diabetes. 

AstraZeneca and Prosidion Limited, a fully-owned subsidiary of Astellas, and Astellas had entered into an option agreement in December 2011, under which Prosidion granted to AstraZeneca the exclusive option to acquire these assets. Astellas does not plan to make further development of PSN821 and PSN842.

We believe this is a setback for this new class of drug GPR119 agonist
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