Takeda Pharmaceutical, a Japan-based pharmaceutical company in Japan and Asia, has offered to acquire TiGenix, a Belgium-based cell therapy company, it was reported yesterday.

The deal is valued at EUR520m.

The company is taking this step to expand its late-stage gastroenterology pipeline and its footprint in the US specialty care market. Takeda Pharmaceutical stated that the deal reinforces its commitment to patients with Inflammatory Bowel Disease (IBD), which currently has limited treatment options. The acquisition will also extend Takeda's present collaboration with TiGenix, aimed at introducing new treatment options for gastrointestinal disorders. The collaboration includes the development and commercialisation of the Belgian firm's stem cell therapy Cx601 (darvadstrocel).

Takeda's takeover proposal has the full support of TiGenix's board of directors. The Japanese firm has offered the Belgian company's shareholders EUR1.78 for each TiGenix share.