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What will be the next major therapeutic area Jnana will focus on post-acquisition by December 31, 2024?
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Resolution / Starting Odds
Autoimmune diseases • 25%
Neurological disorders • 25%
Metabolic disorders • 25%
Other therapeutic areas • 25%
Official press release from Jnana Therapeutics or Otsuka Pharmaceutical
Story
Otsuka to Acquire Jnana Therapeutics for $1.1 Billion, $800M Upfront
Aug 1, 2024, 08:45 AM
Japan's Otsuka Pharmaceutical has announced an agreement to acquire U.S.-based Jnana Therapeutics for up to $1.1 billion. The deal includes an upfront payment of $800 million and up to $325 million in milestone payments. Jnana, a Boston-based clinical-stage biotech company, is known for its RAPID platform and the JNT-517 oral investigational drug, which has shown effectiveness for phenylketonuria (PKU) in Phase 1b/2 trials. Upon completion of the acquisition, Jnana will operate as a subsidiary of Otsuka in Boston and continue its research and development efforts, including work on autoimmune diseases. The company is led by CEO and co-founder Joanne Kotz. This acquisition adds to the recent uptick in private biotech mergers and acquisitions.
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FDA approval of JNT-517 • 25%
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Joanne Kotz remains CEO • 25%
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