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SYDNEY (Kyodo) – Japanese pharmaceutical company Sumitomo Dainippon Pharma Co. has offered A $ 202 million (US $ 142 million) for the purchase of Australia's stem cell company Cynata Therapeutics Ltd. for the obvious purpose of developing its activities in the field of regenerative medicine.
Sumitomo has offered 2 Australian dollars per share for all Cynata shares, the Australian company said Friday in a statement.
The Osaka-based company admitted that the two had negotiated the buy-back proposal, but added that a final decision had not yet been made.
Sumitomo views regenerative medicine and cell therapy as a key area for research and development and is looking for global opportunities, according to its financial results for the 2018 fiscal year.
Based in the state of Victoria, Cynata specializes in the development of stem cell processing using findings from the University of Wisconsin-Madison in the United States, her main product being a treatment for graft disease against cancer. 'host, complication that occurs after a transplant, on the company website.
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