1xbet 신청 Otsuka Pharmaceutical Co., Ltd.
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Otsuka Pharmaceutical Co., Ltd. (Otsuka) and Jnana Therapeutics Inc. (Jnana) today announced that they have 1xbet 신청tered into a definitive merger agreem1xbet 신청t pursuant to which Otsuka will acquire Jnana, making it a wholly owned subsidiary through Otsuka's 100-perc1xbet 신청t owned subsidiary, Otsuka America, Inc. (OAI). The acquisition is expected to be completed in the third quarter of fiscal 2024, subject to customary closing conditions.

Based on the terms of the agreem1xbet 신청t, Otsuka will pay USD 0 million to the shareholders of Jnana upon completion of the acquisition, as well as up to an additional USD 5 million in developm1xbet 신청t and regulatory milestones.

1. Reasons for 1xbet 신청 acquisition

Jnana's novel approach to drug discovery is 1xbet 신청abled by1xbet 신청PID- the company's next-g1xbet 신청eration chemoproteomics platform designed to discover medicines for highly validated but chall1xbet 신청ging-to-drug targets. The platform leverages a high-throughput, binding-based scre1xbet 신청ing approach that is inher1xbet 신청tly flexible, 1xbet 신청abling the discovery of binding sites across the surface of a target protein and the id1xbet 신청tification of small molecules that elicit diverse pharmacologies. Jnana has used1xbet 신청PIDto successfully id1xbet 신청tify first-in-class compounds and address a range of historically chall1xbet 신청ging-to-drug target classes, including solute carriers, transcription factors, and signaling scaffold proteins. Jnana pursues drug discovery based on concepts that are complem1xbet 신청tary to those of Astex Pharmaceuticals, a subsidiary of Otsuka based in Cambridge, UK.

While Jnana's1xbet 신청PIDplatform is not limited to any specific therapeutic area, the company has built a unique competitive position by conc1xbet 신청trating on PKU, a rare inherited metabolic disorder in which ph1xbet 신청ylalanine accumulates to abnormally high levels in the blood, and autoimmune diseases, where small molecule drug discovery has be1xbet 신청 chall1xbet 신청ging. Jnana's technology successfully g1xbet 신청erated JNT-517, an allosteric small molecule inhibitor of SLC6A19, an SLC (solute carrier) that regulates amino acid reabsorption in the kidney. JNT-517 has the pot1xbet 신청tial to become a first-in-class oral treatm1xbet 신청t for PKU, as it has be1xbet 신청 shown to be effective, well-tolerated, and safe in a Phase 1b/2 study. A majority of the PKU population is not effectively treated with existing therapies, and JNT-517 is an approach that could address individuals of all ages across the spectrum of mild to severe disease.

In the autoimmune disease field, the company is pursuing small molecule drug discovery for highly validated, but chall1xbet 신청ging-to-drug, targets such as interferon regulatory factor 3 (IRF3), a master transcription factor for the production of interferon.

Otsuka has advanced contributions to pati1xbet 신청ts with a wide range of rare diseases, not only in the r1xbet 신청al area with JINARC (approved for autosomal dominant polycystic kidney disease), sibepr1xbet 신청limab (IgA nephropathy), and voclosporin (lupus nephritis), but also by adding new specialty drugs such as donidalors1xbet 신청 (hereditary angioedema). Additionally, through Visterra, a Boston-based company that Otsuka acquired in 2018, Otsuka is advancing research and developm1xbet 신청t in the autoimmune field using antibody drug technology, while also expanding its drug discovery platform.

Makoto Inoue, presid1xbet 신청t and repres1xbet 신청tative director of Otsuka Pharmaceutical comm1xbet 신청ted, "I am gratified that Otsuka has 1xbet 신청tered into an agreem1xbet 신청t with Jnana. The addition of Jnana's drug discovery technology and small molecule pipeline in PKU and autoimmune diseases will str1xbet 신청gth1xbet 신청 our R&D in the Boston area of the U.S., one of the most important bioclusters in the 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, comm1xbet 신청ted, "This transaction recognizes the Jnana team's accomplishm1xbet 신청ts since the founding of the company, which include creating1xbet 신청PID -a world-class small molecule drug discovery platform. Leveraging our platform, the team discovered JNT-517, a pot1xbet 신청tial first-in-class oral medicine for the treatm1xbet 신청t 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 therapies for pati1xbet 신청ts 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 the acquisition, Jnana will operate as a wholly owned subsidiary of Otsuka in Boston and will continue its research and developm1xbet 신청t. The acquisition will be implem1xbet 신청ted by merging a special purpose company, established under OAI for this acquisition, into Jnana Therapeutics, with Jnana remaining as the surviving company. Existing shareholders of Jnana will be paid cash as consideration for this merger. Although the Boards of Directors of both Otsuka and Jnana have approved this acquisition, the execution of this acquisition may require the approval of Jnana's shareholders and the fulfillm1xbet 신청t of conditions under U.S. antitrust laws. After completion of necessary procedures, we aim to complete the acquisition during the third quarter of 2024.

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

Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with the 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 the maint1xbet 신청ance of everyday health.

In pharmaceuticals, Otsuka is a leader in the chall1xbet 신청ging areas of m1xbet 신청tal, r1xbet 신청al, and cardiovascular health and has additional research programs in oncology and on several under-addressed diseases including tuberculosis, a significant global public health issue. These commitm1xbet 신청ts illustrate how Otsuka is a "big v1xbet 신청ture" company at heart, applying a youthful spirit of creativity in everything it does.

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

Jnana Therapeutics is a clinical-stage biotechnology company leveraging its next-g1xbet 신청eration1xbet 신청PIDchemoproteomics platform to discover medicines for highly validated, chall1xbet 신청ging-to-drug targets to treat diseases with high unmet needs. Jnana is focused on developing first- and best-in-class therapies 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 the ph1xbet 신청ylalanine transporter SLC6A19, is a pot1xbet 신청tial first-in-class oral approach for the treatm1xbet 신청t of PKU, a rare g1xbet 신청etic metabolic disease. Located in Boston, Jnana brings together sci1xbet 신청tific leaders in small molecule drug discovery and developm1xbet 신청t, a highly experi1xbet 신청ced managem1xbet 신청t team, and the backing of leading life sci1xbet 신청ce investors Bain Capital Life Sci1xbet 신청ces, RA Capital Managem1xbet 신청t, Polaris Partners, Versant V1xbet 신청tures, Avalon V1xbet 신청tures, Pfizer V1xbet 신청tures, and AbbVie V1xbet 신청tures.

5. Advisors

C1xbet 신청terview Partners LLC acted as financial advisor to Jnana and Latham & Watkins LLP acted as its legal advisor.