Expansion of the drug discovery portfolio through the acquisition of Cullinan Pearl
First written in FY2022-Q1. 1 of 3 entries say "Achieved", first in FY2022-Q2. Latest entry: FY2022.
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- FY2022Cited as achievedAnnual report
「On 12 May 2022 (Japan time), Taiho Pharmaceutical Co., Ltd. entered into an agreement to acquire all shares of Cullinan Pearl Corp., held by Cullinan Oncology, Inc., and make it a wholly owned subsidiary. It acquired the EGFR inhibitor TAS6417, representing ¥48,370 million in in-process research and development.」
The annual report also confirms the acquisition of Cullinan Pearl Corp. as a wholly owned subsidiary and the acquisition of TAS6417 as achievements in expanding the drug discovery portfolio. - FY2022-Q2AchievedAnnual report
「Taiho Pharmaceutical Co., Ltd., a consolidated subsidiary of the company, entered into an agreement on 12 May 2022 (Japan time) to acquire all shares of Cullinan Pearl Corp., held by Cullinan Oncology, Inc., and make it a wholly owned subsidiary. Cullinan Pearl Corp. was an equity-method affiliate in which the company already held a 20% equity interest. Following the necessary legal procedures, the acquisition was completed on 21 June 2022 (Japan time).」
The acquisition of Cullinan Pearl Corp., for which the agreement was disclosed in the previous quarter, was completed on 21 June 2022. The company paid a contractual upfront payment of US$275 million and added TAS6417 to the Group's pipeline. - FY2022-Q1First statedAnnual report
「As consideration for the acquisition, Taiho Pharmaceutical will pay Cullinan Oncology a contractual upfront payment of US$275 million, plus up to an additional US$130 million depending on the achievement of milestones. The acquisition of the shares under the agreement is scheduled to be completed during the second quarter of 2022, following the necessary legal procedures.」
Taiho Pharmaceutical entered into an agreement on 12 May 2022 to acquire all shares of equity-method affiliate Cullinan Pearl Corp. and make it a wholly owned subsidiary. The consideration comprises a contractual upfront payment of US$275 million and additional milestone payments of up to US$130 million, with completion scheduled during the second quarter of 2022.