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1xbet모바일 Pharmaceutical Co., Ltd. (1xbet모바일) and Visterra, Inc. (Visterra) announce that they have entered into a definitive merger agreement pursuant to which 1xbet모바일 will acquire Visterra for approximately USD 430 million in an all-cash transaction. The 1xbet모바일 and Visterra boards of directors have approved the transaction. Subject to customary closing conditions, including expiration or termination of the waiting period under U.S. antitrust laws, the transaction is expected to close in the third quarter of 2018.
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Tatsuo Higuchi, president and representative director of 1xbet모바일 Pharmaceutical Co., Ltd. commented, "I am highly gratified that Visterra's exceptional antibody platform technology, promising pipeline and talented researchers will join up with 1xbet모바일. By collaborating and reinforcing each other's culture, human ingenuity and technology, we hope to help fulfill Visterra's promise as a powerful new drug creation engine and expand 1xbet모바일's research horizons."
"This transaction affirms the power of Visterra's novel technology platform, the promise of our product candidates, and the value our employees and shareholders have created. Our two companies share a common culture of creativity and innovation, and commitment to patients with kidney diseases, cancer and other hard-to-treat diseases. Joining forces with 1xbet모바일 will provide Visterra the resources, support and commitment to accelerate development of our pipeline and fully realize the potential of our technology platform," said Brian J. G. Pereira, MD, CEO of Visterra.
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Following completion of the acquisition, Visterra will be a wholly owned subsidiary of 1xbet모바일 America, Inc., which is a U.S. holding company and a wholly owned subsidiary of 1xbet모바일 Pharmaceutical Co., Ltd. of Japan. Visterra will continue to operate its business and develop its pipeline as a member of the 1xbet모바일 family of companies, retaining its talent and its location in Waltham, Massachusetts.
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1xbet모바일 Pharmaceutical is a global healthcare company with the corporate philosophy: "1xbet모바일-people creating new products for better health worldwide." 1xbet모바일 researches, develops, manufactures and markets innovative products, with a focus on pharmaceutical products for the treatment of diseases and nutraceutical products for the maintenance of everyday health.
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1xbet모바일 Pharmaceutical is a subsidiary of 1xbet모바일 Holdings Co., Ltd. headquartered in Tokyo, Japan. The 1xbet모바일 group of companies employed 46,000 people worldwide and had consolidated sales of approximately USD 11.1 billion in 2017.
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