STAT Plus: Frequency signs $80 million deal with Astellas Pharma

Frequency Therapeutics, the Woburn, Mass., biotech that wants to restore hearing lost as a result of long-term exposure to loud music, leaf blowers, and other features of modern life, has found a like-minded business partner in Japan.

Frequency will receive $80 million up front in a licensing deal with Tokyo-based Astellas Pharma (ALPMY). The latter firm hopes to develop and market outside the United States the startup’s experimental drug to restore hearing. Frequency plans to develop and sell the medicine domestically.

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