Astellas Pharma acquires iota Biosciences
Clients Astellas Pharma Inc.
Jones Day advised Astellas Pharma Inc. in its acquisition of iota Biosciences. Under the Merger Agreement, Astellas made an initial payment of approximately $127.5 million to acquire all of the outstanding equity in iota not already held by Astellas (Astellas through a U.S. subsidiary, is already an investor in iota through its previous Series A Preferred Stock offering). iota’s shareholders (other than Astellas) will be eligible to receive additional payments of up to a total of approximately $176.5 million upon achievement of predetermined milestones by iota within certain timeframes after completion of the transaction.