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Takeda to acquire Envoy

November 7, 2012 2:05 AM UTC

Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) will acquire partner Envoy Therapeutics Inc. (Jupiter, Fla.) for up to $140 million in cash, including an upfront payment and preclinical milestones. Takeda, which has a 12.5% stake in Envoy, will gain the biotech's bacTRAP technology and preclinical CNS assets, which include programs for Parkinson's disease (PD) and cognitive impairment associated with schizophrenia. The deal is expected to close this month. Ernst & Young advised Takeda, and Grant Thornton advised Envoy. ...