Otsuka Pharmaceutical Buys Mass. Biotech For $430M In Cash
By Adam Rhodes (July 11, 2018, 6:58 PM EDT) -- Japan's Otsuka Pharmaceutical Co. Ltd. has agreed to buy private equity-backed, Massachusetts-based clinical stage biotechnology company Visterra Inc. for $430 million in cash in a deal already approved by both their boards of directors, the companies jointly announced Wednesday.
Under the deal, Visterra will become a subsidiary of U.S. holding company Otsuka America Inc., the companies said. As an Otsuka unit, Visterra will keep its headquarters in Waltham.
Tatsuo Higuchi, Otsuka Pharmaceutical's president and representative director, praised the deal in the companies' statement.
"By collaborating and reinforcing each other's culture, human ingenuity and technology, we hope to help fulfill Visterra's promise...
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