Takeda to Acquire LigoCyte Pharmaceuticals, Inc.

Gains First-in-Class Norovirus Vaccine Candidate and Virus-Like Particle Platform, Advancing Takeda's Commitment to Vaccines and Global Public Health

10-Oct-2012 - Japan

Takeda Pharmaceutical Company Limited and LigoCyte Pharmaceuticals, Inc. jointly announced that Takeda's wholly-owned subsidiary, Takeda America Holdings, Inc. and LigoCyte Pharmaceuticals, Inc. have entered into a definitive agreement for Takeda to acquire LigoCyte for an upfront payment of $60 million, with future contingent consideration based on the progress of development projects.

"Takeda's acquisition of LigoCyte is a major step forward in the expansion of Takeda's vaccine business, and a demonstration of Takeda's dedication to preventing illness in children and adults around the world," said Rajeev Venkayya, M.D., executive vice president of Takeda's Vaccine Business Division (VBD), which was launched in January 2012. "Norovirus is the most common cause of outbreaks of gastroenteritis and foodborne illness in the U.S., and is responsible for 200,000 deaths each year, most of them in developing countries. With the only norovirus vaccine in clinical trials today, Takeda will be in a position to change this picture."

To preserve continuity and build upon LigoCyte's success, Takeda will continue operating LigoCyte in Bozeman, Montana, for the foreseeable future and intends to retain the management team and its employees. Once the acquisition is complete, Mr. Beeman and his management team will become a part of Takeda's Vaccine Business Division. Pending the satisfaction of customary closing conditions, the deal is expected to close in the next several weeks.

https://www.bionity.com/en/news/140053/takeda-to-acquire-ligocyte-pharmaceuticals-inc.html