Takeda to Acquire LigoCyte Pharmaceuticals, Inc.

Takeda to Acquire LigoCyte Pharmaceuticals, Inc. PR Newswire OSAKA, Japan, DEERFIELD, Illinois and BOZEMAN, Montana, Oct. 4, 2012 -- Gains First-in-Class Norovirus Vaccine Candidate and Virus-Like Particle Platform, Advancing Takeda's Commitment to Vaccines and Global Public Health OSAKA, Japan, DEERFIELD, Illinois and BOZEMAN, Montana, Oct. 4, 2012 /PRNewswire/ -- Takeda Pharmaceutical Company Limited (Takeda) and LigoCyte Pharmaceuticals, Inc. jointly announced today that Takeda's wholly-owned subsidiary, Takeda America Holdings, Inc. and LigoCyte Pharmaceuticals, Inc. have entered into a definitive agreement for Takeda to acquire LigoCyte for an upfront payment of $60 million, with future contingent consideration based on the progress of development projects. LigoCyte is a privately-held biopharmaceutical company specializing in innovative vaccine products headquartered in Bozeman, Montana. Its lead product, a vaccine to prevent norovirus gastroenteritis, is in phase I/II of clinical development. "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," said Rajeev Venkayya, M.D., executive vice president of Takeda's Vaccine Business Division (VBD), which was launched in January 2012. "Norovirus is the most common cause of outbreaks of gastroenteritis and foodborne illness in the U.S.