Astellas Pharma announced that it has entered into a definitive agreement to acquire Iveric Bio for $40 per share in cash, for a total equity value of approximately $5.9 billion. The acquisition is expected to be completed in the third quarter of 2023.
Under the terms of the agreement, Iveric Bio will become an indirectly wholly owned subsidiary of Astellas Pharma. The acquisition includes avacincaptad pegol, which is under evaluation for the treatment of geographic atrophy.
Iveric Bio is a biopharmaceutical company focused on the discovery and development of novel treatments for retinal diseases with significant unmet medical needs. The company delivers treatments designed to address debilitating retinal diseases including earlier stages of age-related macular degeneration.
Astellas Pharma is a pharmaceutical company conducting business in more than 70 countries. Astellas Pharma is committed to the therapeutic fields of urology, immunology, oncology, neuroscience and metabolic diseases. The company announced $10.6 billion in annual revenue during 2022.
According to data captured in the LevinPro HC database, this acquisition represents the 45th Biotechnology deal of 2023. There were 37 Biotechnology deals announced between January 1, 2022, and May 1, 2022.
