Otsuka Pharmaceutical Completes Acquisition of Visterra
WALTHAM, Mass.--(BUSINESS WIRE)--Sep 4, 2018--Visterra, Inc. (Visterra) announces that Otsuka Pharmaceutical Co., Ltd. of Japan has completed the acquisition of Visterra for approximately USD 430 million in an all-cash transaction. The acquisition was completed on August 31, 2018. Visterra will operate as a wholly owned subsidiary of Otsuka America, Inc., which is a U.S. holding company and a wholly owned subsidiary of Otsuka Pharmaceutical Co., Ltd. of Japan.
Otsuka Pharmaceutical Co., Ltd. has issued this announcement in Japan.
About Visterra, Inc. Visterra is a clinical stage biotechnology company committed to developing innovative antibody-based therapies for the treatment of patients with kidney diseases and other hard-to-treat diseases. Its proprietary Hierotope® platform enables the design and engineering of precision antibody-based product candidates that specifically bind to, and modulate, key disease targets that are not adequately addressed by traditional therapeutic approaches. The platform also includes Fc engineering capabilities for half-life extension, bispecific antibodies and antibody-drug conjugates (ADCs). Visterra’s pipeline includes programs targeting IgA nephropathy and other kidney diseases, cancer, chronic pain and infectious diseases. Visterra is funded by investments by Polaris Partners, Flagship Pioneering, the Bill and Melinda Gates Foundation, MRL Ventures Fund, Vertex Global Healthcare Fund, Serum Institute of India Private Ltd., Temasek Holdings, Omega Funds, Cycad Group, Lux Capital, Alleghany Financial Group Ventures, CTI Life Sciences Fund and Alexandria Equities. For more information, visit www.visterrainc.com.
About Otsuka Pharmaceutical Co., Ltd. Otsuka Pharmaceutical is a global healthcare company with the corporate philosophy: “Otsuka-people creating new products for better health worldwide.” Otsuka researches, develops, manufactures and markets innovative products, with a focus on pharmaceutical products for the treatment of diseases and nutraceutical products for the maintenance of everyday health.
In pharmaceuticals, Otsuka is a leader in the challenging area of mental health and also has research programs in several under-addressed diseases including tuberculosis, a significant global public health issue. These commitments illustrate how Otsuka is a “big venture” company at heart, applying a youthful spirit of creativity in everything it does.
Otsuka Pharmaceutical is a subsidiary of Otsuka Holdings Co., Ltd. headquartered in Tokyo, Japan. The Otsuka group of companies employed 46,000 people worldwide and had consolidated sales of approximately USD 11.1 billion in 2017.
All Otsuka stories start by taking the road less travelled. Learn more about Otsuka Pharmaceutical Company on its global website at https://www.otsuka.co.jp/en. Learn more about Otsuka in the U.S. at www.otsuka-us.com and connect with us on Twitter at @OtsukaUS.
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CONTACT: Otsuka Pharmaceutical, Co., Ltd.
Jeffrey Gilbert, +81 80 8728 6039
Leader, Pharmaceutical PR
The Yates Network
Kathryn Morris, 914-204-6412
KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA MASSACHUSETTS JAPAN
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY PHARMACEUTICAL
SOURCE: Visterra, Inc.
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PUB: 09/04/2018 09:00 AM/DISC: 09/04/2018 09:01 AM