ALPMF - Astellas to acquire iota Bio

Astellas Pharma (ALPMF) and iota Biosciences have entered into a Merger Agreement pursuant to which Astellas will acquire iota. Through this deal, Astellas will acquire iota’s bioelectronics technology to accelerate its Rx+ business and explore other applications for new target diseases and developing new technologies. Under the Merger Agreement, ALPMF will make an initial payment of ~$127.5M to acquire all of the outstanding equity in iota not already held. iota’s shareholders (other than Astellas) will be eligible to receive additional payments of up to a total of ~$176.5M upon achievement of predetermined milestones.The transaction is expected to occur during Q3 of fiscal year ending March 31, 2021.

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Astellas to acquire iota Bio