08 May 2013 | News | By BioSpectrum Bureau
Singapore: Japanese company, Takeda Pharmaceutical is looking to acquire Inviragen for an upfront payment of $35 million, and future payments of up to $215 million, which would be linked to the progress of clinical development and achievement of key commercial milestones.
Headquartered in Fort Collins, US, and with facilities in Madison, US, and Singapore, Inviragen is a privately-held biopharmaceutical company specializing in R&D of innovative vaccines for emerging infectious diseases, including dengue and hand, foot and mouth disease (HFMD).
"The acquisition of Inviragen supports Takeda's overall R&D programs, long-term growth strategy and commitment to improve health through innovation and new technology," said Dr Tadataka Yamada, 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."
"This acquisition combines Inviragen's expertise in viral vaccine R&D and our extensive worldwide network of preclinical and clinical collaborators with Takeda's resources, product development expertise, and global reach. Together we are well-positioned to bring these promising vaccine candidates to the market," said Dr Dan Stinchcomb, Inviragen's chief executive officer.
Beyond the substantial expansion of Takeda's vaccine pipeline, this acquisition will enhance Takeda's core vaccine R&D capabilities with Inviragen's vaccine development center in Singapore.