Astellas Pharma, a Japan-based pharmaceuticals company, has transferred a second drug to the management of US-based Drais Pharmaceuticals after it hatched a similar deal in April.
Astellas will transfer ownership of ASP7147, which treat irritable bowel syndrome with diarrhea, to Seldar Pharma, a virtual company operated by Drais.
In April Astellas and Drais hatched a similar deal, creating Telsar, to operate another drug, ASP3291.
Seldar and Telsar are both backed by the same investors, Astellas’ corporate venturing unit Astellas Venture Management, and venture firms InterWest Partners and Sutter Hill Ventures. The firms have invested $13m into Seldar.
Astellas Venture Management, InterWest Partners and Sutter Hill Ventures in April invested $14m into Telsar.
Donna Tempel, co-founder and executive president of Drais and fellow Drais co-founder, Robert Desjardins, were previously the senior management of Yamanouchi R&D, a precursor company to Astellas, before acting as the executive team of AkaRx, acquired by Eisai/MGI for $300m in 2010 after corporate venturing backing from Astellas. The exit value had been previously reported to be $255m and AkaRx was founded in 2005 as a spin out of the merger of Yamanouchi Pharmaceutical Company and Fujisawa Pharmaceutical Company to form Astellas Pharma.
Formed in September 2007, Drais completed its series A round in January 2008 from lead investors, InterWest Partners and Sutter Hill Ventures.