Asana BioSciences Purchases Endo Pharmaceuticals Branded Drug Discovery Platform
Asana BioSciences, which is a member of the Amneal Alliance of Companies, has announced that it has purchased the early stage branded pharmaceutical drug discovery platform of Endo Pharmaceuticals.
Through this acquisition, Asana will attain several early-stage drug candidates from Endo, including candidates for oncology, inflammation, and pain indications. Under the terms of the agreement, Endo will receive both upfront payments and milestone payments for hitting certain developmental marks. Rajiv De Silva, the President and CEO of Endo, called the deal “another step in the transformation of Endo.” He added that the company was committed to continuing its growth, and that it would be looking for its own acquisition targets in order to enhance the company’s portfolio in the near future.
Dr. Sandeep Gupta, Asana’s CEO, recently worked as the SVP of Discovery and Early Development at Endo Pharmaceuticals. Gupta commented on the new deal between the two companies. “Asana’s mission is to develop novel and clinically differentiated products that address unmet clinical needs and provide new treatment options to physicians and patients. Our team consists of highly experienced scientists who have successfully executed several drug discovery and clinical development projects. I am very excited about this portfolio and am looking forward to initiating our First-in-Man trials for our lead asset and moving other assets into clinical development,” he said.
The Amneal Alliance of Companies is a group of independent companies that work together on collaborative projects to bring value to all its members. Endo Pharmaceuticals is a subsidiary of Endo International plc. Asana focuses on the research and development of new chemical and biological entities, and the company is looking to expand its current oncology and pain indication portfolio. Asana has several drugs that it is readying for clinical trials. The company is based out of Bridgewater, New Jersey.