Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Otsuka Pharmaceutical Co., Ltd. announced that it has entered into a definitive agreement with Cantargia AB to acquire CAN10, a Phase 1 anti-IL1RAP monoclonal…
Otsuka is reaching into Sweden to pick up a Phase 1 autoimmune asset. The Japanese pharma will pay Cantargia $33 million upfront with up to $580 million in…
Otsuka Pharmaceutical has completed its acquisition of the CAN10 IL1RAP antibody from Cantargia, the Swedish biotech confirmed this week. With closing,…
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Otsuka acquired CAN10, a Phase 1 anti-IL1RAP antibody for inflammatory/autoimmune diseases, from Swedish biotech Cantargia. $33M upfront plus up to $580M in development, regulatory and commercial milestones (total $613M) plus tiered royalties up to double digits. Closed September 11, 2025. Post-close, Otsuka took over development: the Phase 1 first-in-human study (NCT06143371, sponsor now Otsuka Pharmaceutical Development & Commercialization) completed on November 10, 2025, evaluating CAN10 in healthy subjects and mild-to-moderate plaque psoriasis patients.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Otsuka Pharmaceutical Co., Ltd. / Cantargia AB (this deal) | 2025 | $613M | — |
| Otsuka Pharmaceutical Co., Ltd. / Avanir Pharmaceuticals, Inc. | 2014 | $3.5B | 41 |
| Otsuka Pharmaceutical Co., Ltd. / Transcend Therapeutics, Inc. | 2026 | $1.2B | — |
| Otsuka Pharmaceutical Co., Ltd. / 4D Molecular Therapeutics, Inc. | 2025 | $421M | — |
| Otsuka Pharmaceutical Co., Ltd. / Jnana Therapeutics Inc. | 2024 | $1.1B | — |
| Ciba-Geigy AG / Sandoz AG | 1996 | $36.3B | 98 |
| Sanofi SA / Regeneron Pharmaceuticals, Inc. | 2007 | $1.0B | 97 |
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