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Acquisition expected to support pharmaceutical’s blindness regeneration campaign.
Astellas Pharma Inc., a Tokyo-based pharmaceutical company, is officially taking control of Iveric Bio, a biopharmaceutical company focused on the development of treatments for retinal diseases. Per the terms of the deal, Iveric Bio will become a wholly owned subsidiary of Astellas with a value of US $40 per share.
Closing the acquisition, which is expected to be complete by Q3 of this year, is still subject to approval by Iveric Bio’s stockholders.
"We are pleased to reach an agreement with Iveric Bio, a company with exceptional expertise in the R&D of innovative therapeutics in the ophthalmology field." said Naoki Okamura, President and CEO, Astellas. "Iveric Bio has promising programs including avacincaptad pegol, an important program for geographic atrophy secondary to age-related macular degeneration, and capabilities across the entire value chain in the ophthalmology field. We believe that this acquisition will enable us to deliver greater value to patients with ocular diseases at high risk of blindness."
Reference: Astellas Enters into Definitive Agreement to Acquire Iveric Bio. April 29, 2023/PR Newswire