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Otsuka Pharmaceutical (Otsuka), a Tokyo-based health care company, subsidiary of Otsuka Holdings, announced that it has entered into a definitive merger agreement to acquire the developer of 39; Visterra antibody for $ 430 million in cash
. Visterra will be a wholly owned subsidiary of Otsuka America, the US holding company and a unit of Otsuka Pharma, and Visterra will continue to operate, develop its pipeline and retain its talent and location in Waltham. , Massachusetts. [19659002] Subject to customary closing conditions, the transaction is expected to close in the third quarter of 2018.
"I am very pleased that Visterra's outstanding antibody platform technology, a promising pipeline and Talented researchers join Otsuka.By collaborating and strengthening culture, human ingenuity and technology of the other, we hope to contribute to the realization of Visterra as a powerful driver of new drug creation and expand the Otsuka's research horizons, "said Otsuka Pharma., develops, manufactures and markets pharmaceuticals for the treatment of diseases and nutraceuticals for the maintenance of daily health.
" This transaction asserts the power of Visterra's new technology platform, the promise of our product candidates and the value of our employees. and the shareholders have created. Our two companies share a common culture of creativity and innovation, and a commitment to patients with kidney disease, cancer and other hard-to-treat diseases.
"Sitting in Otsuka will provide Visterra with the resources, support and commitment to accelerate development. Said Brian JG Pereira, Managing Director and CEO of Visterra.
Visterra is a clinical stage biotechnology company that develops novel antibody therapeutics for the treatment of patients with kidney disease and other diseases.
He was supported by Polaris Partners, Flagship Pioneering, The Bill and Melinda Gates Foundation, MRL Ventures Fund, Vertex Ventures HC, Serum Institute of India Private Ltd., Temasek Holdings, Omega Funds, Cycad Group, Lux Capital, Alleghany Financial Group Ventures, CTI Life Sciences Fund and Alexandria Equities.
See also:
Japan: Otsuka Pharma to Acquire Daiya Foods in Canada for $ 324 Million
Otsuka Pharma to Acquire Neurovance Supported by VC Up To $ 250 Million
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