Takeda America Holdings, Inc., a subsidiary of Takeda Pharmaceutical Co., will acquire LigoCyte Pharmaceuticals for an upfront payment of $60 million, with future payments based on the progress of development projects. LigoCyte is a privately held biopharma company specializing in vaccine products, and is headquartered in Bozeman, MT. Its lead vaccine product to prevent norovirus gastroenteritis is in Phase I/II development. LigoCyte has also initiated preclinical development of vaccines against respiratory syncytial virus, influenza and rotavirus.
“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., and is responsible for 200,000 deaths each year, most of them in developing countries. With the only norovirus vaccine in clinical trials today, Takeda will be in a position to change this picture.”
Takeda will continue operating LigoCyte in Bozeman and plans to retain the management team and its employees. Mr. Beeman and his management team will become a part of Takeda’s Vaccine Business Division.