Official financial statements from Otsuka Pharmaceutical, press releases from Jnana Therapeutics or Otsuka Pharmaceutical

Otsuka Pharmaceutical to Acquire Boston-based Jnana Therapeutics for Up to $1.1 Billion

Aug 1, 2024, 05:26 AM

Japan's Otsuka Pharmaceutical announced on Thursday that it will acquire U.S.-based Jnana Therapeutics for up to $1.1 billion. The deal includes an upfront payment of $800 million and potential milestone payments of up to $325 million. Jnana Therapeutics, based in Boston, is known for its RAPID platform and the investigational drug JNT-517, which has shown effectiveness in treating phenylketonuria (PKU) in Phase 1b/2 trials. Following the acquisition, Jnana will operate as a subsidiary of Otsuka in Boston, continuing its research and development efforts. PKU is a rare inherited metabolic disorder characterized by high levels of phenylalanine in the blood. Jnana's CEO and co-founder is Joanne Kotz, and the company is also involved in research related to autoimmune diseases.