Japan’s Denki Kagaku agrees to buy Nomad Bioscience for 75 million eurso in all stock deal
Japan-based Denki Kagaku said it has agreed and to buy German Bio-pharmaceutical Nomad Bioscience for up to 75 million euros ($82.7 million) in an all share deal.
Nomad is the parent company of Icon (Nasdaq: ICLR). The deal is in line with the company’s plan to acquire Icon’s technical platform to produce high molecular proteins such as antibodies and vaccine antigens by using plant-based genetic modification technology.
Under the terms of the deal Denka will acquire 51% of Icon's shares from Nomad and purchase the remaining stake after two years. Icon will carry out research and development in the vaccines and diagnostic reagents business.
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