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Astellas Pharma, Inc.

Drug Names(s): CP-632, CP-547,632

Description: CP-632 is a small molecule VEGFR angiogenesis inhibitor. Angiogenesis is the process of new blood vessel growth, a process critical to the growth of solid tumors. A wealth of laboratory and preclinical investigations demonstrate that blocking the activity of VEGF or its receptors is an effective way to prevent tumors from receiving adequate blood supply.

Deal Structure: From 1986 to 2001, OSI's oncology drug discovery efforts in targeted therapies were conducted in collaboration with Pfizer. Pursuant to OSI's agreement with Pfizer for this collaboration, if Pfizer is successful in commercializing one of these drug candidates (including OSI-632), OSI will receive a royalty from Pfizer on the sales of these drugs. If Pfizer chooses to discontinue development of any of these drug candidates, OSI will have the right to pursue development of them.

In May 2007, Pfizer returned to OSI full commercial rights to OSI-632.

On March 1, 2010, Astellas Pharma announced they will commence a tender offer to acquire all outstanding shares of common stock of OSI Pharmaceuticals for $52.00 per share in cash, or an aggregate of approximately $3.5 billion on a fully diluted basis.

On May 16, 2010, Astellas Pharma and OSI Pharmaceuticals announced that they have entered into a definitive merger agreement under which Astellas will acquire OSI. Under the terms of...See full deal structure in Biomedtracker

OSI-632 News

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