Takeda Pays $140M To Snap Up Envoy Therapeutics

Law360, New York (November 6, 2012, 5:32 PM EST) -- Takeda Pharmaceutical Co. Ltd. said Tuesday its American unit has agreed to buy drug discovery company Envoy Therapeutics Inc. for $140 million, giving the Japanese pharmaceutical company access to Envoy's preclinical programs for central nervous system disorders.

Takeda America Holdings Inc. will acquire all of Envoy's equity for a total of $140 million, which includes a payment upfront in addition to forthcoming payments dependent on hitting certain milestones.

The deal gives Takeda access to Envoy's bacTRAP technology, which uses genetic engineering and molecular biology techniques to...
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