Astellas and PeptiDream Enter into Research Collaboration and License Agreement to Discover Novel Targeted Protein Degraders

Astellas Pharma US, Inc. and PeptiDream Inc today announced a research collaboration and license agreement to discover novel protein degraders for two targets selected by Astellas. Under the agreement between the two companies, Astellas will have the option to select up to three additional targets to be included in the collaboration. Astellas focuses on targeted protein degraders directed to undruggable targets that are difficult to approach with conventional technologies. Under the terms of the agreement, the companies plan to combine PeptiDream's PDPS (Peptide Discovery Platform System) technology*¹ with Astellas' drug discovery capabilities to discover multiple next-generation protein degraders targeting diverse targets that go beyond existing technologies. Astellas will be responsible for the development and commercialization of products created from this collaborative research.

Astellas will provide PeptiDream with an upfront payment of ¥3.0 billion. PeptiDream is eligible to receive discovery, development and commercial sales milestones of up to ¥20.6 billion per target. PeptiDream is also eligible to receive single-digit percent royalty payments on net sales of any products arising from the collaboration. About Astellas

Astellas Pharma Inc. is a pharmaceutical company conducting business in more than 70 countries around the world. We are promoting the Focus Area Approach that is designed to identify opportunities for the continuous creation of new drugs to address diseases with high unmet medical needs by focusing on Biology and Modality. Furthermore, we are also looking beyond our foundational Rx focus to create Rx+^® healthcare solutions that combine our expertise and knowledge with cutting-edge technology in different fields of external partners. Through these efforts, Astellas stands on the forefront of healthcare change to turn innovative science into VALUE for patients. About PeptiDream Inc.

PeptiDream Inc. (Tokyo Stock Exchange Prime Section 4587) is leading the translation of macrocyclic peptides into a whole new class of innovative medicines to address unmet medical needs and improve the quality of life of patients worldwide. Founded in 2006, PeptiDream employs its proprietary Peptide Discovery Platform System (PDPS) technology, a state-of-the-art highly versatile discovery platform which enables the production of highly diverse (trillions) non-standard peptide libraries with high efficiency, for the identification of highly potent and selective macrocyclic peptide candidates, which then can be developed into peptide-based, small molecule-based, or peptide-drug conjugate (PDC) and multi-functional peptide conjugates (MPC)-based therapeutics and diagnostics. PeptiDream has an extensive global network of discovery and development partners driving the development and commercialization of a broad and diversified pipeline of investigational therapeutics. PeptiDream also markets and sells a number of radiopharmaceutical and radiodiagnostic products in Japan, through its wholly owned subsidiary, PDRadiopharma. 

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