Deal expands Shionogi’s rare-disease pipeline, expected to close by year-end
Japanese drugmaker Shionogi has agreed to acquire Austin, Texas-based IntraBio for $2 billion, Shionogi said Monday. The deal gives Shionogi global rights to Aqneursa, a treatment for the rare disease Niemann-Pick disease type C that is approved in the United States and the European Union.
Shionogi said IntraBio’s expertise would strengthen its capabilities across its rare-disease pipeline. The transaction extends Shionogi’s reach in treatments for rare diseases and is scheduled to close between November and December.
Shionogi, identified by stock code 4507, will purchase shares of IntraBio from existing shareholders, including individuals, trusts, and corporate entities. Shares of Shionogi fell 4.49% in Monday trading in Tokyo.
The deal transfers global rights to Aqneursa — including intellectual property and commercialization rights — to Shionogi. Aqneursa is approved in the U.S. and the EU for the treatment of neurological manifestations of Niemann-Pick disease type C.
IntraBio is based in Austin, Texas. Shionogi cited the company’s rare-disease expertise as a driver of the acquisition, and said the deal would broaden its capabilities in rare-disease therapeutics.
The acquisition is scheduled to be completed between November and December, Shionogi said.
Kosaku Narioka reported from Singapore for The Wall Street Journal.