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Astellas Pharma Acquires Iveric Bio For $5.9 Billion

 |  May 1, 2023

Astellas Pharma Inc has reached an agreement to acquire Iveric Bio Inc for $5.9 billion in cash, valuing each share at $40.00.

Astellas has made a deal with Iveric Bio, a company that concentrates on finding and creating new treatments in ophthalmology. This partnership is expected to further Astellas’ main focus on “Blindness & Regeneration.”

In February 2023, the company stated that the FDA had accepted a marketing application requesting approval for Avacincaptad Pegol (ACP) for the treatment of age-related macular degeneration (AMD) secondary to geographic atrophy (GA).

Read more: Japan/US: Astellas to buy Audentes for $3B

The agency has given ACP priority review, with a PDUFA date of August 19. If approved, the treatment could be available for commercialization by year-end.

ACP, which is marketed as Zimura, is designed for targeting the C5 protein that has been linked with the development of scarring related with the disease.