Japan-based Otsuka Pharmaceutical has agreed to acquire Visterra, a clinical-stage biotechnology company engaged in the development of advanced antibody-based therapies for the treatment of patients with kidney diseases and other hard-to-treat diseases, it was reported yesterday.

The deal is valued at around USD430m. It is likely to be completed in the third quarter of this year, subject to customary closing conditions.

Once the deal completes, the company will become a wholly owned subsidiary of Otsuka America, which is a US holding company and wholly owned subsidiary of Otsuka Pharmaceutical.

Otsuka is engaged in research areas, including psychiatric and neurological diseases, haematological cancers, and kidney, cardiovascular, and infectious diseases.