Takeda to acquire LigoCyte Pharmaceuticals

Takeda has announced it has entered into a definitive agreement with LigoCyte Pharmaceuticals to acquire the privately-held company.

For an upfront payment of 60 million dollars (37.4 million dollars), Takeda America Holdings will take control of the organisation – which specialises in innovative vaccine products.

The move will see Takeda gain the rights to LigoCyte's lead product – a vaccine to prevent norovirus gastroenteritis – currently in its phase I/II of clinical development.

Commenting on the takeover, Rajeev Venkayya, executive vice-president of Takeda's Vaccine Business Division, said this illness is the most common cause of outbreaks of gastroenteritis in the US – which is responsible for 200,000 deaths annually.

"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," Mr Venkayya commented.

LigoCyte focuses on the development of vaccine products based on its proprietary virus-like particle platform technology.