Takeda Pharmaceutical Pays $35 Million for Inviragen

Japanese company Takeda Pharmaceutical (TYO:4502) will buy Inviragen Inc. for an upfront payment of $35 million plus future payments of $215 million for achivement of key commercial milestones, the companies announced on May 7th.

Inviragen specializes in R&D of vaccines for infectious diseases including dengue and hand, foot and mouth disease. The Fort Collins-based company makes DENVax, a vaccine for dengue that is currenly in phase 2 clinical trials.

As quoted in the press release:

“This acquisition combines Inviragen’s expertise in viral vaccine research and development and our extensive worldwide network of preclinical and clinical collaborators with Takeda’sresources, product development  expertise, and global reach. Together we are well-positioned to bring these promising vaccine candidates to the  market,” said Dan Stinchcomb, Ph.D., Inviragen CEO Dan Stinchcomb said in a statement. “Inviragen is pleased to become a part of a leading pharmaceutical company that is so strongly committed to developing vaccines that can improve public health worldwide.”

Click here for the full Takeda Pharmaceutical (TYO:4502) press release