The founders and investors of the privately owned Belgian biotech Ogeda SA will be flush with up to €800m following the sale of the company to Astellas Pharma Inc., one of the first pharma companies to express an interest in the biotech during its earlier development stage. However, the Belgian firm is only likely to retain operations for around a year in its home country post-acquisition.
The Japanese company is paying €500m upfront for Ogeda – which used to be a pharma services business (known as Euroscreen) before it made the transition into drug discovery and development – as well as milestone payments of up to €300m based on attainment of
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