The company, formerly called ProStrakan, has submitted an application to market the KRN23 treatment for X-linked hypophosphatemia in European Union countries to the European Medicines Agency.
U.K. multinational AstraZeneca ($AZN) announced a second deal in Asia in as many days to sell a noncore drug, fetching $70 million from a unit of Tokyo-based Kyowa Hakko Kirin. The latest deal sees ProStrakan, based in Galashiels, Scotland, buy European rights to Moventig, a drug that treats opioid-induced constipation, AstraZeneca said in a press release.