Takeda to acquire LigoCyte Pharmaceuticals

Takeda is set to acquire LigoCyte Pharmaceuticals, with both organisations announcing at the end of last week that they are entering into a definitive agreement.

LigoCyte will be bought by Takeda American Holdings for an upfront payment of 60 million dollars (37.4 million pounds), with future contingent consideration based around the progress of the former's projects.

"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," MD and executive vice-president of Takeda's Vaccine Business Division Rajeev Venkayya stated.

Norovirus vaccine is LigoCyte's leading product and the company is focused on the development of innovative vaccines based on its proprietary virus-like particle platform technology.

Norovirus infects millions of people very year and is recognised at the most common cause of outbreak and food-borne gastroenteritis in developed countries.

Takeda's Vaccine Business Division was launched in January of this year.