Friday, October 5, 2012

Takeda to acquire Ligocyte Pharmaceuticals

Takeda will acquire Ligocyte Pharmaceuticals, a privately help company specializing in innovative vaccines. Takeda will pay $60m in upfront payment, and milestone payments will be contingent on the development of pipeline projects.

LigoCyte’s lead product, the norovirus vaccine, uses VLP (Virus like platform) technology which enables the production of vaccines designed to cover multiple genetic varieties (or “strains”) of norovirus. The vaccine candidate has been shown to confer protection in an initial human challenge trial. In recent years, norovirus has become recognized as the most common cause of outbreak and foodborne gastroenteritis in developed countries. In addition to the norovirus vaccine candidate, LigoCyte has also initiated preclinical development of vaccines against respiratory syncytial virus, influenza and rotavirus.

Sagent Advisors advised Ligocyte on the transaction.

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