Astellas Entered into a Definitive Agreement to Acquire Iveric Bio for ~$5.9B
Shots:
- Astellas to acquire 100% of the outstanding shares of Iveric Bio for $40.00/share in cash for a total equity value of ~$5.9B incl. 148.2M outstanding shares of Iveric Bio common stock on a fully diluted basis representing 22% premium to $32.89 closing price. The acquisition is expected to be completed in Q2’23
- Iveric Bio will become an indirectly wholly-owned subsidiary of Astellas & focuses on the discovery and development of novel treatments in the field of ophthalmology. The acquisition advances Astellas’ primary focus on blindness & regeneration, also enable Astellas to deliver greater VALUE to patients with ocular diseases at high risk of blindness
- The US FDA has accepted the NDA for avacincaptad pegol (ACP) to treat GA secondary to AMD & granted priority review with an expected date on Aug 19, 2023
Ref: Businesswire | Image: Astellas
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
