M&A Deal Summary

Astellas Pharma Acquires IVERIC bio

On April 30, 2023, Astellas Pharma acquired life science company IVERIC bio for 5.9B USD

Acquisition Highlights
  • This is Astellas Pharma’s 12th transaction in the Life Science sector.
  • This is Astellas Pharma’s largest (disclosed) transaction.
  • This is Astellas Pharma’s 10th transaction in the United States.
  • This is Astellas Pharma’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2023-04-30
Target IVERIC bio
Sector Life Science
Buyer(s) Astellas Pharma
Deal Type Add-on Acquisition
Deal Value 5.9B USD
Advisor(s) BofA Securities
Centerview Partners (Financial)
Skadden, Arps, Slate, Meagher & Flom
Wilmer Cutler Pickering Hale and Dorr LLP (Legal)

Target

IVERIC bio

Cranbury, New Jersey, United States
website
IVERIC bio is a biopharmaceutical company specializing in the development of novel therapeutics to treat ophthalmic diseases, with a focus on orphan and age-related retinal diseases. IVERIC bio was founded in 2007 and is based in Cranbury, New Jersey.

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Buyer(S) 1

Buyer

Astellas Pharma

Tokyo, Japan

website

Category Company
Founded 1923
Sector Life Science
Employees14,522
Revenue 1,296.2B JPY (2022)
DESCRIPTION
Astellas office complex in Northbrook, Illinois.
Astellas office complex in Northbrook, Illinois.

Astellas Pharma is a pharmaceutical company committed to the therapeutic fields of urology, immunology, oncology, neuroscience and DM complications and metabolic diseases. Astellas researches, develops, manufactures, and promotes its prescription drugs through subsidiaries in the US, Europe, and Asia. Astellas Pharma was incorporated in 1923 and is based in Tokyo, Japan.

DEAL STATS #
Overall 13 of 14
Sector (Life Science) 12 of 13
Type (Add-on Acquisition) 13 of 14
State (New Jersey) 1 of 1
Country (United States) 10 of 11
Year (2023) 1 of 2
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-14 iota Biosciences

Berkeley, California, United States

iota Biosciences, Inc. is a developer of ultrasonic-powered bioelectronic devices (also known as “neural dust”). iota Biosciences was founded in 2017 and is based in Berkeley, California.

Buy $128M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-15 Propella

Pittsboro, North Carolina, United States

Propella is a biopharmaceutical company that has developed a platform that combines medicinal chemistry with lymphatic targeting to create best- or first-in-class oncology drugs that have validated MOAs and biological targets but suffer from efficacy and safety limitations. Lymphatic targeting enables therapies to be delivered directly to therapeutic target tissues including the lymph nodes and bone, thereby enhancing efficacy and bypassing plasma compartment safety and efficacy limitations and first-pass liver effects. Propella is based in Pittsboro, North Carolina.

Buy -
Mergr

Product

Company

Legal