Asahi Kasei Pharma Corp. has acquired Artisan Pharma, Inc., establishing a wholly-owned subsidiary, Asahi Kasei Pharma America Corp. (AKP America). The transaction establishes a U.S. presence for Asahi Kasei Pharma and provides access to the global development and commercialization of ART-123 (recombinant human thrombomodulin alpha, marketed as Recomodulin in Japan) in severe sepsis patients with coagulopathy. Asahi Kasei Pharma established Artisan Pharma in 2006 with several venture capital firms, licensing ART-123 to Artisan for global development.

Mr. Naoyuki Ono will serve as president and chief executive officer of AKP America and Dr. Inder Kaul will remain president of product development and chief medical officer. AKP America will be hiring as many as 25 new employees in the Boston area over the next few months to support product development efforts.

“This acquisition reflects Asahi Kasei Pharma’s confidence in the global potential for ART-123,” said Mr. Ono. “With the support of our parent company, AKP America plans to initiate a large, multi-country Phase 3 trial of ART-123 in 2012, following positive results from the Phase 2b study, the results of which we plan to release in 2012.”

“Asahi Kasei Pharma America provides an important foothold for us in the U.S. to develop and reach global markets with our products,” said Dr. Kazuyoshi Hori, senior executive officer and board member of Asahi Kasei Pharma. “We have been impressed by the sales of ART-123 (Recomodulin) in Japan since its launch in 2008, and we look forward to completing development for the global markets, including the U.S., where there is a tremendous unmet medical need.”