Astellas Successfully Concludes Acquisition Of Iveric Bio

By Author: Ben Gross
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Astellas Pharma Inc. has successfully completed its acquisition of IVERIC bio, Inc., making Iveric Bio its wholly-owned subsidiary. The acquisition was finalized on July 11, 2023, following approval from Iveric Bio's shareholders and receipt of all necessary regulatory approvals. As a result, Iveric Bio's common stock has been delisted from NASDAQ.

Astellas expressed its satisfaction with the completion of the acquisition and welcomed Iveric Bio as a member of its company. The collaboration between Astellas and Iveric Bio aims to leverage their combined capabilities to contribute to the treatment of ophthalmologic diseases and the prevention of vision loss in millions of patients worldwide.

Iveric Bio's CEO, Glenn P. Sblendorio, expressed excitement about the new chapter for the company and thanked the outgoing Iveric board and shareholders for their support. Pravin U. Dugel, President of Iveric Bio, highlighted the potential for both companies to become leaders in the development and commercialization of differentiated treatments for retinal diseases. They are particularly optimistic about the potential approval ...
... and launch of Avacincaptad Pegol, a treatment for Geographic Atrophy secondary to Age-Related Macular Degeneration, a disease leading to irreversible blindness.

The acquisition amount totaled approximately $5.9 billion, and Iveric Bio is now considered a consolidated subsidiary of Astellas. Astellas is currently reviewing the impact of the acquisition on its consolidated business forecast for the fiscal year ending March 31, 2024, and will make any necessary disclosures accordingly.

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