Takeda offers €520m to acquire European cell therapy company TiGenix
Pharma acquisition news : Japanese pharma company Takeda Pharmaceutical proposes to acquire TiGenix, a cell therapy company in Belgium for €520 million to grow its late-stage gastroenterology portfolio along with its presence in the American specialty care market.
Founded in 2000, TiGenix is an advanced biopharmaceutical company with a focus on utilizing the anti-inflammatory properties of allogeneic, or donor-derived, stem cells to develop novel treatments for serious medical disorders.
Takeda Pharmaceutical says that the transaction to acquire the European cell therapy company strengthens its commitment towards those suffering from Inflammatory Bowel Disease (IBD), which otherwise hasn’t got enough treatment options.
Takeda Pharmaceutical Head Office in Tokyo. Photo courtesy of Lombroso/Commons.wikimedia.org.
The potential Takeda acquisition of TiGenix will also expand the companies’ existing collaboration with an objective to bring in new treatments for gastrointestinal disorders.
Included in their partnership is the development and commercialization of TiGenix stem cell therapy Cx601 (darvadstrocel), which is closing in towards an approval in Europe for the treatment of Crohn’s disease.
It can be recalled that in December 2016, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended approval of the allogeneic stem cell therapy.
Currently, a pivotal phase 3 trial has been launched globally to assess darvadstrocel for the treatment of complex perianal fistulas in patients with non-active/mildly active luminal Crohn’s disease.
Commenting on the potential Takeda acquisition of TiGenix, Andrew Plump – the Chief Medical and Scientific Officer of the Japanese pharma company, said: “As a leader in gastroenterology, Takeda recognizes the complex physical, emotional and social barriers that people living with fistulizing Crohn’s disease experience.
“Limited treatment options exist today and I believe we can be most effective in serving this population by working in collaboration with partners whose unique skill sets allow us to more efficiently explore innovative approaches, including stem cell therapies.”
Takeda acquisition of TiGenix has the unanimous backing of the latter’s board of directors. The offer given to TiGenix from Takeda Pharmaceutical is €1.78 for each share they hold in the European cell therapy company.
Eduardo Bravo – the CEO of TiGenix, commenting on Takeda acquisition of TiGenix, said: “We believe the intended takeover bid of Takeda is a positive step for TiGenix’ security holders and reflects the true value of our dedication to patients over the last few years.
“We believe that TiGenix’s expertise would help accelerate Takeda’s ambition to develop novel stem cell therapies.
“Takeda is a patient centric company that offers the best capabilities and resources to ensure access to Cx601 to patients worldwide.”
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