Takeda agrees takeover of Envoy Therapeutics

Takeda has announced that it will be acquiring its long-term partner Envoy Therapeutics, a US-based developer of innovative pharmaceuticals.

Through its Takeda America Holdings subsidiary, the firm will acquire 100 percent of the equity in Envoy for up to $140 million (87.47 million pounds), with the transaction set to be finalised in the coming days.

Envoy received its first investment from Takeda in 2009 and is known for its proprietary bacTRAP technology, which combines genetic engineering and molecular biology techniques for labelling and extracting protein-making components of specific cell types.

In addition to this versatile platform, Takeda will gain access to Envoy's preclinical central nervous system assets, including programmes for Parkinson's disease and cognitive impairment associated with schizophrenia.

Dr Paul Chapman, general manager of Takeda's pharmaceutical research division, said: "Together with Envoy, we will continue our efforts to contribute to the health of patients worldwide by delivering innovative drugs."

This follows the company's decision to purchase the vaccine developer LigoCyte Pharmaceuticals last month.