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The acquisition, valued at EUR 520 million (US$631 million), would expand Takeda’s late-stage pipeline in gastroenterology and would extend an already existing collaboration between the two companies.
On Jan. 5, 2018, Takeda Pharmaceutical announced its intention to acquire TiGenix, a biopharmaceutical company developing stem cell therapies, and has entered into an offer and support agreement with TiGenix for a recommended potential voluntary public takeover bid for TiGenix. The acquisition extends an existing partnership between the two companies, which aims to bring new treatment options to patients with gastrointestinal disorders. TiGenix’s board of directors unanimously supports Takeda’s acquisition agreement, according to Takeda.
Through the potential voluntary public takeover bid, Takeda intends to acquire TiGenix at an acquisition price of EUR 1.78 (US$2.14) per share, representing a transaction value of approximately EUR 520 million (US$631 million) on a fully diluted basis.
Takeda and TiGenix entered into an exclusive ex-US license, development, and commercialization agreement in July 2016 for Cx601, the leading investigational therapy in TiGenix’s pipeline. The drug candidate is a suspension of allogeneic-expanded adipose-derived stem cells (eASC). It is locally administered to treat complex perianal fistulas in patients with non-active/mildly active luminal Crohn’s disease, who have had an inadequate response to at least one conventional or biologic therapy.
The European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use adopted a positive opinion in December 2017, recommending marketing authorization for Cx601 in the indication. A decision from the EMA on marketing authorization is expected in the first half of 2018.
In the United States, Takeda intends to work with FDA to facilitate the development and potential approval of the drug candidate. The company is also exploring the steps required for regulatory filing of the drug in Japan, Canada, and emerging markets.
“As a leader in gastroenterology, Takeda recognizes the complex physical, emotional and social barriers that people living with fistulizing Crohn’s disease experience,” said Andrew Plump, chief medical and scientific officer, Takeda, in a company press release. “Limited treatment options exist today, and I believe we can be most effective in serving this population by working in collaboration with partners whose unique skill sets allow us to more efficiently explore innovative approaches, including stem cell therapies. I have had the opportunity to work alongside the TiGenix team throughout our collaboration and know that we have shared goals and varied, but complementary expertise. I am thrilled at the prospect of welcoming them as part of our organization.”
Source: Takeda Pharmaceutical