OR WAIT null SECS
Stem-cell developer TiGenix has been acquired by Takeda Pharmaceutical for approximately EUR 520 million (US$604 million).
On July 31, 2018, Takeda Pharmaceutical announced that it acquired all outstanding ordinary shares and warrants of TiGenix, a biopharmaceutical company developing stem cell therapies, following the expiration of the squeeze-out period on July 26, 2018.
Announced in January 2018, the acquisition is priced at EUR 1.78 (US$2.07) per share, representing a transaction value of approximately EUR 520 million (US$604 million) on a fully diluted basis, and extends an existing partnership between the two companies aimed to bring new treatment options to patients with gastrointestinal disorders. TiGenix’s board of directors unanimously supported Takeda’s acquisition agreement, according to Takeda.
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. 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.
This acquisition follows the opening of Takeda’s new headquarters in Nihonbashi, Tokyo, earlier in July 2018.
Source: Takeda Pharmaceutical