Takeda Pharmaceutical has offered to acquire Belgium-based cell therapy company TiGenix for €520m to expand its late-stage gastroenterology pipeline and its footprint in the US specialty care market.
The Japanese pharma firm said that the deal reinforces its commitment to patients with Inflammatory Bowel Disease (IBD), which currently has limited treatment options.
The acquisition will also extends Takeda’s existing collaboration with TiGenix, aimed at introducing new treatment options for gastrointestinal disorders.
The partnership includes the development and commercialization of the Belgian firm’s stem cell therapy Cx601 (darvadstrocel).
Last month, Cx601 was recommended for approval by the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for approval in the European Union for Crohn’s disease.
A global, pivotal Phase III trial has been initiated to investigate the allogeneic stem cell therapy for the treatment of complex perianal fistulas in patients having non-active/mildly active luminal Crohn’s disease.
Takeda chief medical and scientific officer Andrew Plump said: “As a leader in gastroenterology, Takeda recognizes the complex physical, emotional and social barriers that people living with fistulizing Crohn’s disease experience.
“Limited treatment options exist today and I believe we can be most effective in serving this population by working in collaboration with partners whose unique skill sets allow us to more efficiently explore innovative approaches, including stem cell therapies.”
Takeda’s takeover proposal has been unanimously supported by the board of directors of TiGenix. The Japanese firm has offered a price of €1.78 per each share of TiGenix to the shareholders of the Belgian company.
TiGenix CEO Eduardo Bravo said: “We believe the intended takeover bid of Takeda is a positive step for TiGenix’ security holders and reflects the true value of our dedication to patients over the last few years.
“We believe that TiGenix’s expertise would help accelerate Takeda’s ambition to develop novel stem cell therapies.
“Takeda is a patient centric company that offers the best capabilities and resources to ensure access to Cx601 to patients worldwide.”
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