Astellas Successfully Concludes Acquisition of Iveric Bio

 Astellas Pharma Inc. has completed its acquisition of IVERIC bio, Inc., making it a wholly-owned subsidiary of Astellas. The acquisition was finalized on July 11, 2023, following approval from Iveric Bio's shareholders and regulatory authorities. As a result, Iveric Bio's common stock has been delisted from NASDAQ.

Astellas expressed its satisfaction with the acquisition and welcomed Iveric Bio as part of the company. The collaboration aims to leverage the combined capabilities of Astellas and Iveric Bio to benefit millions of patients suffering from ophthalmologic diseases. The companies are particularly focused on developing and commercializing differentiated treatments for retinal diseases, including the potential approval and launch of Avacincaptad Pegol, a treatment for Geographic Atrophy secondary to Age-Related Macular Degeneration.

Iveric Bio's CEO thanked the outgoing Iveric board and shareholders for their support and expressed excitement for the company's future under Astellas. Astellas is currently evaluating the impact of the acquisition on its consolidated business forecast for the fiscal year ending March 31, 2024.

The acquisition amount totaled approximately $5.9 billion, and Iveric Bio's conversion into a subsidiary was effective as of July 11, 2023. Astellas operates globally as a pharmaceutical company and is committed to advancing healthcare through innovative science and creating value for patients.

More Information : https://www.techdogs.com/tech-news/pr-newswire/astellas-completes-acquisition-of-iveric-bio

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