Deerfield-based Takeda Pharmaceutical Co. said its U.S. subsidiary, Takeda America Holdings, Inc., awill acquire biopharmaceutical company Inviragen for an estimated total of $250 million.
Takeda said it will make an upfront payment of $35 million, and future payments of up to $215 million that are linked to the progress of clinical development and achievement of key commercial milestones, according to a release.
Headquartered in Fort Collins, Colo., with facilities in Madison, Wis. and Singapore, Inviragen is a privately-held biopharmaceutical company specializing in research and development of innovative vaccines for emerging infectious diseases, including dengue and hand, foot and mouth disease.
“Takeda has taken another major step toward its goal of establishing a world-class global vaccine business by acquiring Inviragen and its advanced vaccine candidate against dengue, a serious mosquito-borne illness that threatens nearly half of the world’s population,” said Rajeev Venkayya, M.D., executive vice president and head of Takeda’s Vaccine Business Division.
Inviragen has created innovative products using its expertise in viral vaccines, including a vaccine for the prevention of dengue infection. The company is also looking at vaccines to protect against hand, foot and mouth disease and chikungunya.
“The acquisition of Inviragen supports Takeda’s overall research and development programs, long-term growth strategy and commitment to improve health through innovation and new technology,” said Tadataka Yamada, M.D., Takeda’s chief medical and scientific officer and member of the Takeda board of directors. “Coming less than a year after the acquisition of LigoCyte with the world’s leading norovirus vaccine candidate, this illustrates Takeda’s commitment to its global vaccine business and global public health.”Copyright © 2014 Paddock Publications, Inc. All rights reserved.