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news.Japanese drug firm Astellas Pharma has agreed to acquire the US-based clinical stage biotechnology company Ocata Therapeutics for about $379m.
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US-based Ocata develops and commercializes regenerative ophthalmology therapeutics.
The company’s principal R&D and commercial efforts relate to its Regenerative Ophthalmology programs and involve development of therapies to treat eye diseases and disorders.
Ocata’s most advanced products are in clinical trials to treat Stargardt’s macular degeneration, dry age-related macular degeneration, and myopic macular degeneration.
Its portfolio includes pluripotent stem cell platforms – hESC and induced pluripotent stem cell (iPSC) – and other cell therapy research programs.
Astellas will make a tender offer worth $8.50 a share in cash to buy Ocata.
The transaction will enable Astellas to establish a presence in ophthalmology and take lead in the field of cell therapy.
Astellas Pharma president and CEO Yoshihiko Hatanaka 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,’ where Ocata will be taking a key role in Astellas’ R&D in ophthalmology and cell therapy."
Earlier this year, Astellas Pharma and Potenza Therapeutics formed a research and development collaboration.
The collaboration aims to advance a portfolio featuring programs with novel mechanisms of action targeting immune checkpoint pathways, co-stimulatory signals and regulatory T cells.
The deal includes an option that allows for Astellas to acquire Potenza on pre-determined terms at the end of the collaboration period.
Image: Astellas Pharma has agreed to acquire Ocata Therapeutics for about $379m. Photo: courtesy of adamr/FreeDigitalPhotos.net.