Astellas Acquires Mitobridge Under Existing Collaboration

(1) The name of Mitokyne, Inc. was changed to Mitobridge, Inc.
(2) As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge will be $165.5 million. The amount assumes the current Astellas' shares on a fully diluted basis. The amount will be adjusted depending on the cash and cash equivalents etc. held by Mitobridge at the closing.

Acquisition Summary
(1)  Acquiring company: Astellas Pharma Inc.
(2)  Major shareholders of Mitobridge: MPM Capital, Longwood Funders Fund, Astellas Pharma Inc.
(3)  Payment: Cash on hand
(4)  Amount:
     $225 million* to make Mitobridge a wholly-owned subsidiary of Astellas
     Up to $225 million* in future contingent payments based on the advances in clinical programs
     *As Astellas is a shareholder in Mitobridge, the actual payment by Astellas to Mitobridge will be $165.5 million. The amount assumes the current Astellas' shares on a fully diluted basis. The amount will be adjusted depending on the cash and cash equivalents etc. held by Mitobridge at the closing.
(5)  Expected timing of closing: Next several weeks, subject to customary regulatory approvals

Overview of Acquired Company
(1)  Corporate Name: Mitobridge, Inc.
(2)  Location: Cambridge, MA
(3)  Representative: President & CEO Kazumi Shiosaki
(4)  Founded year: 2011
(5)  Number of employees: 27
(6)  Relationship with Astellas: Equity-method affiliate, research and development partner

About Astellas
Astellas Pharma Inc., based in Tokyo, Japan, is a company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. We focus on Urology, Oncology, Immunology, Nephrology and Neuroscience as prioritized therapeutic areas while advancing new therapeutic areas and discovery research leveraging new technologies/modalities. We are also creating new value by combining internal capabilities and external expertise in the medical/healthcare business. Astellas is on the forefront of healthcare change to turn innovative science into value for patients. For more information, please visit our website at https://www.astellas.com/en.

About Mitobridge (fka Mitokyne)
Mitobridge is discovering and developing small molecule therapeutics that enhance mitochondrial function and that build upon the emerging scientific findings linking mitochondrial dysfunction with disease pathologies.  The Company is progressing innovative approaches to the treatment of diseases with high unmet medical need with the strategy to establish proof of concept in rare diseases and then expand into more common diseases.  The Company was founded in 2011 with seed financing from MPM Capital.  In October 2013, it closed a Series A financing from MPM Capital, Longwood Fund, and Astellas Pharma and a shared vision for the promise of mitochondrial-targeted therapeutics.

Astellas Cautionary Notes
In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties.

Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice.

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SOURCE Astellas Pharma Inc.