Astellas to establish ophthalmology presence with acquisition of Ocata

10 November 2015

Japanese drug major Astellas Pharma (TSE: 4503) has entered into a definitive agreement to acquire US biotech firm Ocata Therapeutics (Nasdaq: OCAT) through its wholly-owned subsidiary Laurel Acquisition. The boards of directors of both Astellas and Ocata have unanimously approved the deal, the companies announced on Monday.

Ocata is focused on the research and development of new therapies in the field of regenerative medicine, primarily cell therapy addressing unmet medical needs in ophthalmology patients. Acquiring Ocata will enable Astellas to establish a presence in ophthalmology and a leading position in cell therapy, the Japanese firm said. Ocata’s treatment for Stargardt disease, an inherited form of juvenile macular degeneration, is in Phase II clinical testing. It began a trial for dry age-related macular degeneration in the third quarter of this year.

$379 million transaction value

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