Astellas Enters Into Definitive Agreement to Acquire Iveric Bio – IVERIC bio (NA… – Press Release

-Companies to Create World-Class Ophthalmology Entity-

-Lead Program, Avacincaptad Pegol for the Potential Treatment of Geographic Atrophy with PDUFA Goal Date of August 19, 2023–

-Acquisition advances Astellas’ Primary Focus on “Blindness & Regeneration“-

-Acquisition price of US$40 per share in cash, representing a total equity value of approximately US$5.9 billion-

Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) and IVERIC Bio, Inc. ISEE CEO: Glenn P. Sblendorio, “Iveric Bio”))) today announced that on April 29, 2023 (Japan time), the Companies have entered into a definitive agreement under which Astellas through Berry Merger Sub, Inc., a wholly-owned subsidiary of Astellas US Holding, Inc., has agreed to acquire 100% of the outstanding shares of Iveric Bio for US$40.00 per share in cash for a total equity value of approximately US$5.9 billion (the “Acquisition”). In the Acquisition, Iveric Bio will become an indirectly wholly-owned subsidiary of Astellas. The total equity value of Iveric Bio in the Acquisition assumes that there are approximately 148.2 million outstanding shares of Iveric Bio common stock on a fully diluted basis. The purchase price represents a premium of 64% to Iveric Bio’s unaffected closing share price of US$24.33 on March 31, 2023, and a premium of 75% to Iveric Bio’s 30 trading day volume weighted average price as of March 31, 2023. The Boards of Directors of both companies have unanimously approved the transaction.

“We are pleased to reach an agreement with Iveric Bio, a company with exceptional expertise in the R&D of innovative therapeutics in the ophthalmology field,” said Naoki Okamura, President and CEO, Astellas. “Iveric Bio has promising programs including Avacincaptad Pegol (“ACP”), an important program for Geographic Atrophy (“GA”) secondary to Age-Related Macular Degeneration (“AMD”), and capabilities across the entire value chain in the ophthalmology field. We believe that this…

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