Japanese-based drug company, Takeda Pharmaceuticals, has acquired US-based LigoCyte Pharmaceuticals, a developer of vaccines and monoclonal antibodies for gastrointestinal and respiratory diseases. The deal includes a $60m up-front payment and possible earnouts.
LigoCyte has raised more than $30m in funding from Novartis Venture Funds, the Switzerland-based pharmaceutical company’s corporate venturing unit, MedImmune Ventures, the corporate venturing unit of AstraZeneca, Fidelity Biosciences, the venture unit of the asset manager, and venture firms Forward Ventures, JAFCO, Athenian Venture Partners and MC Life Sciences Ventures. The deal means Takeda can now expand its vaccine business division.
Rajeev Venkayya, executive vice-president of Takeda’s Vaccine Business Division, said: “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”.