Takeda's wholly-owned subsidiary, Takeda America Holdings and LigoCyte Pharmaceuticals have entered into a definitive agreement for Takeda to acquire LigoCyte for an upfront payment of $60m, with future contingent consideration based on the progress of development projects.
Takeda Vaccine Business Division executive vice president Rajeev Venkayya said Takeda's acquisition of LigoCyte will expand its vaccine business.
The acquisition will help Takeda gain Norovirus vaccine candidate and virus-like particle platform as well as increase its global market and develop R&D capacity.
LigoCyte using its proprietary virus-like particle platform (VLP) technology aims to develop new vaccines and its main product, the norovirus vaccine covers multiple genetic varieties (strains) of norovirus.
Norovirus vaccine is the only product in phase I/II of clinical trials, which awaits approval in the US, Europe and other countries.
Takeda chief medical and scientific officer and board of directors member Tadataka Yamada said Norovirus is responsible for a significant burden of disease around the world and is notoriously difficult to control.
LigoCyte chief executive officer Donald P. Beeman said, "LigoCyte is pleased to become a part of a leading research-based global pharmaceutical company with a commitment to vaccines and the resources to develop our pipeline."
In addition to the norovirus vaccine candidate, LigoCyte has also started preclinical development of vaccines against respiratory syncytial virus, influenza and rotavirus.
