Astellas to acquire Ocata Therapeutics

Astellas has announced the takeover of Ocata Therapeutics through its wholly-owned subsidiary Laurel Acquisition.

The all-cash transaction is valued at approximately $379 million (249.68 million pounds) and will see Astellas purchase a biotechnology company focused on the research and development of new therapies in the field of regenerative medicine.

Ocata primarily focuses on the development of cell therapy addressing unmet medical needs in ophthalmology patients. The acquisition will give Astellas a leading position in this strategically important market.

It is hoped that through the purchase of Ocata, Astellas will be able to develop new therapies for age-related macular degeneration based on regenerative medicine principles.

Yoshihiko Hatanaka, president and chief executive officer of Astellas, said: "We're confident that we will turn innovative science into value for patients through the creation of new value by combining both companies’ capabilities under 'One Astellas'."

Formerly known as Advanced Cell Technology, Ocata is focused finding ways of replacing or regenerating human cells, tissues or organs, to restore or establish normal function.