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IDM Pharma, Inc. (IDMI) RSS Feed

Followers
16
Posters
101
Posts (Today)
0
Posts (Total)
2070
Created
05/07/07
Type
Free
Moderators

NEW YORK--(BUSINESS WIRE)--Takeda Pharmaceutical Company Limited ("Takeda", TSE: 4502) today announced the completion of its

acquisition of IDM Pharma, Inc. (“IDM”, NASDAQ: IDMI) for US$2.64 per share in cash, through a short-form merger of Jade Subsidiary

Corporation (“Jade”), a wholly owned subsidiary of Takeda America Holdings, Inc., which is a wholly owned subsidiary of Takeda, into IDM.

With the consummation of the merger, IDM has become a wholly owned subsidiary of Takeda America Holdings, Inc. This acquisition adds

MEPACT® (mifamurtide), a novel therapy indicated for the treatment of osteosarcoma, to the Takeda oncology portfolio in Europe.

 

"With the closing of this acquisition, we look forward to launching MEPACT in Europe. This novel therapy, the first treatment approved for

osteosarcoma in more than 20 years, has the potential to benefit patients in an area where new treatments are urgently needed,” said Erich

Brunn, CEO of Takeda Pharmaceuticals Europe Limited. IDM’s common stock will no longer trade on the NASDAQ Global Market. Detailed

instructions will be mailed to former IDM stockholders who did not tender their shares in the tender offer that preceded the merger. These

instructions will outline the steps to be taken by such former IDM stockholders to obtain the same US$2.64 per share as was paid in the

tender offer. The price paid per share is subject to any required tax withholding and no interest will be paid thereon.

 

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