ALPMF - Astellas subsidiary Mitobridge in license agreement with Generian for undruggable targets

• Mitobridge, a subsidiary of Japan's Astellas Pharma ( OTCPK:ALPMY ), has inked a licensing agreement with Generian Pharmaceuticals to develop small molecules for undruggable therapeutic targets.
• The collaboration will lean on privately-held Generian's proprietary drug-discovery platform.
• Terms call for both companies to work on conduct research and preclinical development, with Astellas ( OTCPK:ALPMF ) handling clinical development, manufacturing and commercialization of products.
• Generian will receive an undisclosed upfront payment as well as up to $180M in milestone payments. It is also eligible for single-digit royalties on sales of any products that make it to market.
• On Tuesday, Astellas ( OTCPK:ALPMY ) brokered a collaboration arrangement with Sutro Biopharma ( STRO ).

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