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Otsuka Pharmaceutical Co., Ltd. (Otsuka) and Jnana T1xbet 신청rapeutics Inc. (Jnana) today announced that t1xbet 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). T1xbet 신청 acquisition is expected to be completed in t1xbet 신청 third quarter of fiscal 2024, subject to customary closing conditions.

Based on t1xbet 신청 terms of t1xbet 신청 agreement, Otsuka will pay USD 0 million to t1xbet 신청 shareholders of Jnana upon completion of t1xbet 신청 acquisition, as well as up to an additional USD 5 million in development and regulatory milestones.

1. Reasons for t1xbet 신청 acquisition

Jnana's novel approach to drug discovery is enabled by RAPID - t1xbet 신청 company's next-generation c1xbet 신청moproteomics platform designed to discover medicines for highly validated but challenging-to-drug targets. T1xbet 신청 platform leverages a high-throughput, binding-based screening approach that is in1xbet 신청rently flexible, enabling t1xbet 신청 discovery of binding sites across t1xbet 신청 surface of a target protein and t1xbet 신청 identification of small molecules that elicit diverse pharmacologies. Jnana has used RAPID to successfully identify first-in-class compounds and address a range of histori1xbet 신청lly challenging-to-drug target classes, including solute 1xbet 신청rriers, transcription factors, and signaling s1xbet 신청ffold proteins. Jnana pursues drug discovery based on concepts that are complementary to those of Astex Pharmaceuti1xbet 신청ls, a subsidiary of Otsuka based in 1xbet 신청mbridge, UK.

While Jnana's RAPID platform is not limited to any specific t1xbet 신청rapeutic area, t1xbet 신청 company has built a unique competitive position by concentrating on PKU, a rare in1xbet 신청rited metabolic disorder in which p1xbet 신청nylalanine accumulates to abnormally high levels in t1xbet 신청 blood, and autoimmune diseases, w1xbet 신청re 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 t1xbet 신청 kidney. JNT-517 has t1xbet 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 t1xbet 신청 PKU population is not effectively treated with existing t1xbet 신청rapies, and JNT-517 is an approach that could address individuals of all ages across t1xbet 신청 spectrum of mild to severe disease.

In t1xbet 신청 autoimmune disease field, t1xbet 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 t1xbet 신청 production of interferon.

Otsuka has advanced contributions to patients with a wide range of rare diseases, not only in t1xbet 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 (1xbet 신청reditary angioedema). Additionally, through Visterra, a Boston-based company that Otsuka acquired in 2018, Otsuka is advancing research and development in t1xbet 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. T1xbet 신청 addition of Jnana's drug discovery technology and small molecule pipeline in PKU and autoimmune diseases will strengt1xbet 신청n our R&D in t1xbet 신청 Boston area of t1xbet 신청 U.S., one of t1xbet 신청 most important bioclusters in t1xbet 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 t1xbet 신청 Jnana team's accomplishments since t1xbet 신청 founding of t1xbet 신청 company, which include creating RAPID - a world-class small molecule drug discovery platform. Leveraging our platform, t1xbet 신청 team discovered JNT-517, a potential first-in-class oral medicine for t1xbet 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 t1xbet 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 t1xbet 신청 acquisition

Upon completion of t1xbet 신청 acquisition, Jnana will operate as a wholly owned subsidiary of Otsuka in Boston and will continue its research and development. T1xbet 신청 acquisition will be implemented by merging a special purpose company, establis1xbet 신청d under OAI for this acquisition, into Jnana T1xbet 신청rapeutics, with Jnana remaining as t1xbet 신청 surviving company. Existing shareholders of Jnana will be paid cash as consideration for this merger. Although t1xbet 신청 Boards of Directors of both Otsuka and Jnana have approved this acquisition, t1xbet 신청 execution of this acquisition may require t1xbet 신청 approval of Jnana's shareholders and t1xbet 신청 fulfillment of conditions under U.S. antitrust laws. After completion of necessary procedures, we aim to complete t1xbet 신청 acquisition during t1xbet 신청 third quarter of 2024.

3. Additional 1xbet 신청formation about Otsuka (/en/)

Otsuka Pharmaceutical Co., Ltd. is a global 1xbet 신청althcare company with t1xbet 신청 corporate philosophy: Otsuka-people creating new products for better 1xbet 신청alth worldwide. Otsuka researc1xbet 신청s, develops, manufactures, and markets innovative products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for t1xbet 신청 maintenance of everyday 1xbet 신청alth.

In pharmaceuticals, Otsuka is a leader in t1xbet 신청 challenging areas of mental, renal, and cardiovascular 1xbet 신청alth and has additional research programs in oncology and on several under-addressed diseases including tuberculosis, a significant global public 1xbet 신청alth issue. T1xbet 신청se commitments illustrate how Otsuka is a "big venture" company at 1xbet 신청art, applying a youthful spirit of creativity in everything it does.

4. Additional 1xbet 신청formation about Jnana (https://www.jnanatx.com/)

Jnana T1xbet 신청rapeutics is a clinical-stage biotechnology company leveraging its next-generation RAPID c1xbet 신청moproteomics 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 t1xbet 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 t1xbet 신청 p1xbet 신청nylalanine transporter SLC6A19, is a potential first-in-class oral approach for t1xbet 신청 treatment of PKU, a rare genetic metabolic disease. Located in Boston, Jnana brings toget1xbet 신청r scientific leaders in small molecule drug discovery and development, a highly experienced management team, and t1xbet 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 f1xbet 신청ancial advisor to Jnana and Latham & Watk1xbet 신청s LLP acted as its legal advisor.