Anokion and Astellas agree to deal

Lausanne-based biotech firm Anokion and global pharma company Astellas Pharma Inc. have announced an agreement to collaborate in immune tolerance therapeutics for type 1 diabetes and coeliac disease. A new company, Kanyos Bio, has been established to develop clinical candidates in the two selected indications, with an option for Astellas to add a third autoimmune indication as part of the collaboration.

The agreement is worth potentially about $760 million, including R&D funding, option exercise and milestone payments. Astellas, which is based in Tokyo, will also participate, along with Anokion’s existing investors, in a $16 million equity financing for Kanyos. Astellas will provide non-dilutive research funding to Kanyos and holds an option to acquire the company after reaching certain milestones.

EPFL spin-off Anokion focuses on applying the company’s antigen-specific immune tolerance technology to reduce the immunogenicity of therapeutic proteins and to treat autoimmune and allergic diseases. The creation of Kanyos, which will use Anokion’s platform technology, will enable pre-clinical development of products for type 1 diabetes and coeliac disease.