TOKYO, Jan 5 (Reuters) - Japan’s Takeda Pharmaceutical Co said on Friday it has agreed to buy Belgian biotech group TiGenix NV for 520 million euros ($628 million).
In a statement, Japan’s top drugmaker said it intends to acquire 100 percent of TiGenix at 1.78 euro per share. It said it will fund the acquisition with cash on hand.
“The acquisition is a natural extension of an existing partnership agreement between Takeda and TiGenix, which aims to bring new treatment options to patients with gastrointestinal disorders,” Takeda said.
Centerview Partners UK LLP was financial advisor to Takeda and Cowen and Company LLC was TiGenix’s financial advisor.
$1 = 0.8283 euros Reporting by Taiga Uranaka; Editing by Stephen Coates
Our Standards: The Thomson Reuters Trust Principles.