Shionogi & Co., Ltd. will acquire IntraBio, a U.S. rare disease drug development company, for US$2 billion and make it a wholly owned subsidiary by acquiring all of its shares. Following regulatory approval, the company aims to complete the transaction in November or December this year.
Shionogi & Co., Ltd. announced that it will acquire IntraBio, a biopharmaceutical company headquartered in Texas, U.S. The acquisition price is US$2 billion, and the company plans to acquire all of IntraBio’s shares and make it a wholly owned subsidiary.
IntraBio develops treatments for rare diseases, including a drug intended to improve neurological symptoms associated with Niemann-Pick disease type C. The acquisition is positioned as a measure to strengthen the Group’s rare disease operations, including through the acquisition of personnel and expertise.
Following regulatory approval, the company is targeting around November or December this year for completion of the transaction. The article states that completion of the acquisition would strengthen the Group’s capabilities in the rare disease field.