Astellas to acquire Ocata Therapeutics in $379m buyout
pharmafile | November 11, 2015 | News story | Research and Development, Sales and Marketing |Â Â Astellas, Ocata, Stem cells, cell therapy, ophthalmologyÂ
Astellas Pharma has agreed to buy Ocata, a firm specialising in cloning and embryonic stem cell therapies, for $379 million.
Under the agreement Astellas will acquire Ocata through Laurel Acquisition, a wholly-owned subsidiary of Astellas US Holding.
Astellas, one of the major drug companies in Japan, will commence a tender offer for all outstanding shares of common stock of Ocata, for a price of $8.50 per share in cash. If the deal is successfully completed Ocata will be merged into Astellas.
Ocata, based in Massachusetts, is thought to be the most advanced company in testing medical treatments derived from human embryonic stem cells. Such cells are controversial because their creation usually involves the destruction of human embryos, although Ocata says it can avoid this.
The company has reported early but encouraging results from clinical trials of a cell therapy technique in which it turned embryonic stem cells into a new type of retinal cell, and implanted them into the eyes of people with from two eye diseases: dry age-related macular degeneration and Stargardt disease.
Yoshihiko Hatanaka, president and chief executive of Astellas says: “We highly value Ocata’s R&D capabilities, including its world-leading researchers in cell therapy. We’re confident that we will turn innovative science into value for patients through the creation of new value by combining both companies’ capabilities… Ocata will be taking a key role in Astellas’ R&D in ophthalmology and cell therapy.”
Acquiring Ocata will mean Astellas can establish a presence in ophthalmology, as well as in cell therapy.
Paul Wotton, president and chief executive of Ocata says: “I am impressed by the vision and commitment of Astellas and believe that with their global resources behind our regenerative platform, patients suffering from debilitating diseases like AMD and SMD will soon benefit from having access to regenerative medicine.”
Yasmita Kumar
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