Sosei to acquire Japanese peptide technology company Jitsubo

Japanese biopharma company Sosei (TYO: 4565) says its board of directors has resolved to acquire existing shares and underwrite a third party allocation of new shares of Jitsubo, a Japanese peptide technology firm. Financial terms of the transaction were not disclosed.

Explaining the reasons for the acquisition, Sosei said the group has successfully secured a steady revenue stream from milestones and royalty payments from chronic obstructive pulmonary disease (COPD) products licensed to Novartis (Seebri Breezhaler and Ultibro Breezhaler). However, in order to further enhance its corporate value, the group has been looking for new pipeline candidates that could augment the revenue inflow from the two marketed Novartis products.

As a result, the Group has identified and resolved to acquire Jitsubo, a company with a cutting-edge peptide technology. Together with APNT (the nanoparticle technology of the group’s subsidiary, Activus Pharma), Jitsubo’s technology is expected to play an important role in achieving the mid-long term strategic goals of the group.