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Takeda Pharmaceutical Company Ltd

Drug Names(s): Bexidem

Description: Bexidem is based on activated macrophages (Monocyte-derived Activated Killer cells or MAK cells), which IDM produces by activating a patient's own white blood cells ex vivo. MAK cells, which have increased capacity to recognize and destroy cancer cells, are then reinjected into the patient in the vicinity of the tumor.

Deal Structure: IDM and Takeda
In May 2009, Takeda Pharmaceutical Company and IDM Pharma announced that Takeda America Holdings, a wholly-owned subsidiary of Takeda (Takeda America), and IDM Pharma have entered into an agreement for Takeda America to acquire IDM Pharma. Under the agreement, Takeda America will purchase all of IDM Pharma's outstanding shares for US $2.64 per share in an all cash tender offer followed by a merger.

This transaction is structured as an all cash tender offer for all of the outstanding shares of IDM Pharma common stock, followed by a merger in which remaining shares of IDM Pharma not tendered into the offer would be converted into the right to receive the same US $2.64 cash per share price paid in the tender offer. The transaction has been unanimously approved by the Boards of Directors of IDM Pharma and Takeda. In connection with signing of the merger agreement, stockholders holding shares representing approximately 55% of the outstanding IDM Pharma common...See full deal structure in Biomedtracker

Bexidem News

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