Thursday, May 9, 2013
Inviragen Acquisition By Takeda Worth Up To $250M
The acquisition of Fort Collins, Colorado-based Inviragen could be worth up to $250M for the company's backers, based on its milestones. Takeda Pharmaceutical and Inviragen announced the acquisition deal Tuesday, saying that Takeda will pay $35M upfront, and up to $215M in future milestone payments, if the companies makes progress on clinical development and key commercial milestones. Inviragen is a developer of biopharmaceuticals for treating infection disease, including dengue fever and hand, foot and mouth disease (HFMD). The firm's viral vaccines are in the midst of development. Inviragen is venture backed by EDBI Bio*One Capital, Singapore), Charter Life Sciences, Venture Investors, and Phillip Private Equity (Singapore).