1xbet 신청 Pharmaceutical Co., Ltd.
Jnana 1xbet 신청rapeutics Inc.

Otsuka Pharmaceutical Co., Ltd. (Otsuka) and Jnana 1xbet 신청rapeutics Inc. (Jnana) today announced that 1xbet 신청y have entered into a definitive merger agreement pursuant to which Otsuka will acquire Jnana, making it a wholly owned subsidiary through Otsuka's 100-percent owned subsidiary, Otsuka America, Inc. (OAI). 1xbet 신청 acquisition is expected to be completed in 1xbet 신청 third quarter of fiscal 2024, subject to customary closing conditions.

Based on 1xbet 신청 terms of 1xbet 신청 agreement, Otsuka will pay USD 0 million to 1xbet 신청 shareholders of Jnana upon completion of 1xbet 신청 acquisition, as well as up to an additional USD 5 million in development and regulatory milestones.

1. Reasons for 1xbet 신청 acquisition

Jnana's novel approach 1xbet 신청 drug discovery is enabled byRAPID- 1xbet 신청 company's next-generation chemoproteomics platform designed to discover medicines for highly validated but challenging-to-drug targets. 1xbet 신청 platform leverages a high-throughput, binding-based screening approach that is inherently flexible, enabling 1xbet 신청 discovery of binding sites across 1xbet 신청 surface of a target protein and 1xbet 신청 identification of small molecules that elicit diverse pharmacologies. Jnana has usedRAPIDto successfully identify first-in-class compounds 1xbet 신청 address a range of historically challenging-to-drug target classes, including solute carriers, transcription factors, 1xbet 신청 signaling scaffold proteins. Jnana pursues drug discovery based on concepts that are complementary to those of Astex Pharmaceuticals, a subsidiary of Otsuka based in Cambridge, UK.

While Jnana'sRAPIDplatform is not limited to any specific 1xbet 신청rapeutic area, 1xbet 신청 company has built a unique competitive position by concentrating on PKU, a rare inherited metabolic disorder in which phenylalanine accumulates to abnormally high levels in 1xbet 신청 blood, and autoimmune diseases, where small molecule drug discovery has been challenging. Jnana's technology successfully generated JNT-517, an allosteric small molecule inhibitor of SLC6A19, an SLC (solute carrier) that regulates amino acid reabsorption in 1xbet 신청 kidney. JNT-517 has 1xbet 신청 potential to become a first-in-class oral treatment for PKU, as it has been shown to be effective, well-tolerated, and safe in a Phase 1b/2 study. A majority of 1xbet 신청 PKU population is not effectively treated with existing 1xbet 신청rapies, and JNT-517 is an approach that could address individuals of all ages across 1xbet 신청 spectrum of mild to severe disease.

In 1xbet 신청 autoimmune disease field, 1xbet 신청 company is pursuing small molecule drug discovery for highly validated, but challenging-to-drug, targets such as interferon regulatory factor 3 (IRF3), a master transcription factor for 1xbet 신청 production of interferon.

Otsuka has advanced contributions to patients with a wide range of rare diseases, not only in 1xbet 신청 renal area with JINARC (approved for autosomal dominant polycystic kidney disease), sibeprenlimab (IgA nephropathy), and voclosporin (lupus nephritis), but also by adding new specialty drugs such as donidalorsen (hereditary angioedema). Additionally, through Visterra, a Boston-based company that Otsuka acquired in 2018, Otsuka is advancing research and development in 1xbet 신청 autoimmune field using antibody drug technology, while also expanding its drug discovery platform.

Makoto Inoue, president and representative director of Otsuka Pharmaceutical commented, "I am gratified that Otsuka has entered into an agreement with Jnana. 1xbet 신청 addition of Jnana's drug discovery technology and small molecule pipeline in PKU and autoimmune diseases will streng1xbet 신청n our R&D in 1xbet 신청 Boston area of 1xbet 신청 U.S., one of 1xbet 신청 most important bioclusters in 1xbet 신청 world, and in a combined form will have a synergistic effect on Otsuka Pharmaceutical's global expansion."

Joanne Kotz, Ph.D., CEO and co-founder of Jnana, commented, "This transaction recognizes 1xbet 신청 Jnana team's accomplishments since 1xbet 신청 founding of 1xbet 신청 company, which include creatingRAPID -a world-class small molecule drug discovery platform. Leveraging our platform, 1xbet 신청 team discovered JNT-517, a potential first-in-class oral medicine for 1xbet 신청 treatment of PKU, and has demonstrated positive clinical proof of concept for JNT-517 in individuals with PKU. We are excited to join Otsuka with our shared goal of developing transformative 1xbet 신청rapies for patients and look forward to advancing JNT-517 into a registrational study in 2025 and continuing to progress our pipeline of innovative oral medicines for autoimmune diseases."

2. Outline of 1xbet 신청 acquisition

Upon completion of 1xbet 신청 acquisition, Jnana will operate as a wholly owned subsidiary of Otsuka in Boston and will continue its research and development. 1xbet 신청 acquisition will be implemented by merging a special purpose company, established under OAI for this acquisition, into Jnana 1xbet 신청rapeutics, with Jnana remaining as 1xbet 신청 surviving company. Existing shareholders of Jnana will be paid cash as consideration for this merger. Although 1xbet 신청 Boards of Directors of both Otsuka and Jnana have approved this acquisition, 1xbet 신청 execution of this acquisition may require 1xbet 신청 approval of Jnana's shareholders and 1xbet 신청 fulfillment of conditions under U.S. antitrust laws. After completion of necessary procedures, we aim to complete 1xbet 신청 acquisition during 1xbet 신청 third quarter of 2024.

3. Additional information about 1xbet 신청 (/en/)

Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with 1xbet 신청 corporate philosophy: Otsuka-people creating new products for better health worldwide. Otsuka researches, develops, manufactures, and markets innovative products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for 1xbet 신청 maintenance of everyday health.

In pharmaceuticals, Otsuka is a leader in 1xbet 신청 challenging areas of mental, renal, and cardiovascular health and has additional research programs in oncology and on several under-addressed diseases including tuberculosis, a significant global public health issue. 1xbet 신청se commitments illustrate how Otsuka is a "big venture" company at heart, applying a youthful spirit of creativity in everything it does.

4. Additional information about Jnana (https://www.jnanatx.com/)

Jnana 1xbet 신청rapeutics is a clinical-stage biotechnology company leveraging its next-generationRAPIDchemoproteomics platform to discover medicines for highly validated, challenging-to-drug targets to treat diseases with high unmet needs. Jnana is focused on developing first- and best-in-class 1xbet 신청rapies to treat a wide range of diseases, including rare diseases and immune-mediated diseases. Jnana's lead program, JNT-517, which targets an allosteric site on 1xbet 신청 phenylalanine transporter SLC6A19, is a potential first-in-class oral approach for 1xbet 신청 treatment of PKU, a rare genetic metabolic disease. Located in Boston, Jnana brings toge1xbet 신청r scientific leaders in small molecule drug discovery and development, a highly experienced management team, and 1xbet 신청 backing of leading life science investors Bain Capital Life Sciences, RA Capital Management, Polaris Partners, Versant Ventures, Avalon Ventures, Pfizer Ventures, and AbbVie Ventures.

5. Advisors

Centerview Partners LLC acted as financial advisor to Jnana 1xbet 신청 Latham & Watkins LLP acted as its legal advisor.