In a joint statement of Inviragen, Inc and Takeda Pharmaceutical Company Limited, it disclosed that Takeda's fully owned company,Takeda America Holdings, Inc, have entered into a final acquisition agreement. Takeda will be purchasing Inviragen through a straight payment of US$35 million with additional payment of an estimate US$215 million that is based on the compliance of main commercial conditions and growth of the clinical development.
Inviragen is a privately owned biopharmaceutical company. It dedicates its work in the research and development of new vaccines utilizing its expertise in viral vaccines. Most of the vaccines that they develop are for upcoming communicable diseases together with hand, foot and mouth disease (HFMD) and dengue. Viragen is based in Fort Collin, Colorado and its facilities are situated in Singapore for Asia and Madison, Wisconsin for United States.
Takeda's Executive Vice President and Head of Vaccine Business Division, Dr. Rajeev Venkayya, MD said "Takeda has taken another major step toward its goal of establishing a world-class global vaccine business by acquiring Inviragen and its advanced vaccine candidate against dengue, a serious mosquito-borne illness that threatens nearly half of the world's population."
He also added that, "Today's announcement reinforces Takeda's commitment to develop innovative vaccines to fight some of the world's most important infectious diseases."
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