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Astellas puts the cork back in $350M Xork deal after Cartesian-Selecta merger
AcquisitionLicense out/inGene TherapyImmunotherapyCell Therapy
Astellas is backing out of a deal for Cartesian's Xork asset 14 months after first signing on.
Astellassion disclosed Thursday swiftly ends a collaboraCartesian Therapeuticser a year ago. The January 2023 deal was technically with Selecta Biosciences, whichPompe diseaserged with Cartesian.
Astellas paid $10 million upfront to use Xork in conjunction with one of its own gene therapies, AT845. Astellas also offered $340 milliSelecta Biosciencesld the now-terminated collab pCartesiantful. The hope was that Xork, a preclinical immunoglobulin protease, would help patients who were otherwise ineligible for AAV-based gene therapies.
Astellas Selecta merged with Cartesian in November 2023, the focus shifted to the latter’s autoimAT845ceAstellaspies, namely Descartes-08, which is in clinical trials to treat myasthenia gravis and lupus, among other cXorktions. Selecta wimmunoglobulin proteaseths leading up to the companies' fusion, laying off 25% of employees in May. Xork survived a subsequent pipeline narrowing, thanks to Astellas' name attached to the program.
CartesianSelecta mention its Cartesian Xork when the merger was announced and said it didn't incur any early termination penaDescartes-08ing the axed Astellas collab.myasthenia gravisSelectaAstellas
Cartesiandevelopment has, as of late, been one of Astellas’ favored routes to bolster its pipeline. Most recently, the company’s subsidiary, Xyphos, signed a deal with Kelonia to develop novel immuno-oncology cell therapies. A few months earlier, Xyphos linked up with Phenomic AI to work on an antibody targeting tumor stroma. And in early December, Astellas paid $37 million upfront to Elpiscience Biopharma for its bispecific macrophage engagers.
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