Astellas licenses hearing-loss drug

Abstract

Astellas Pharma will pay Frequency Therapeutics $80 million up front for access to the hearing-loss treatment FX-322. Frequency’s combination of small-molecule drugs is injected into the middle ear, where it can induce regeneration of sensory receptors called hair cells. Astellas will lead development of FX-322 outside the US, while Frequency will be responsible for clinical studies in the US, where it plans to begin a Phase IIa trial late this year.