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Takeda to Divest TachoSil® to Corza Health for €350 Million


Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (Takeda) today announced that it has entered into an agreement to divest its TachoSil Fibrin Sealant Patch (TachoSil) to Corza Health, Inc. (Corza Health). Corza Health was formed in 2019 as a partnership between private equity firm GTCR and healthcare industry veteran Gregory T. Lucier to build a market-leading healthcare business with a particular focus on the broader medical technology and life sciences sector. Takeda will receive ‚¬350 million in cash upon closing of the transaction, which is subject to customary legal and regulatory closing conditions.

TachoSil is a surgical patch trusted by medical professionals globally to deliver safe, fast and reliable bleeding control. Takeda recorded full year net sales for TachoSil of approximately $160 million USD in the fiscal year ended March 31, 2020.

Costa Saroukos, Chief Financial Officer, Takeda, said, This announcement continues Takedas strong momentum toward optimizing our portfolio for growth by delivering highly-innovative medicines and transformative care in our chosen business areas, as well as meeting our leverage targets. As we continue to streamline and simplify our portfolio, Takeda is confident that we have found the right partner in Corza Health as the next home for TachoSil. Corza Healths expertise in healthcare, commitment to patients, customers and employees, and resources in partnership with GTCR make it well-positioned to ensure continued patient access to TachoSil and to invest in the product over the long term for their benefit.

Takeda has sustained the momentum of its divestiture program in 2020. Most recently, Takeda announced the sale of non-core assets in Europe and Canada to Cheplapharm for approximately $562 million USD. In August, Takeda announced an agreement to divest Takeda Consumer Healthcare Company Limited to Blackstone for approximately $2.3 billion USD. In June, Takeda agreed to divest a portfolio of non-core assets sold exclusively in the Asia Pacific region to Celltrion for up to $278 million USD; in April, Takeda announced the sale of non-core products in Europe to Orifarm Group for up to approximately $670 million USD, including the sale of two manufacturing sites in Denmark and Poland; and in March, Takeda announced the sale of non-core products in Latin America to Hypera Pharma for $825 million USD, as well as completed the previously announced sales of non-core assets spanning the Russia-CIS region to STADA and in countries spanning the Near East, Middle East and Africa region to Acino.

Takeda intends to use the proceeds from this transaction to reduce its debt and accelerate de-leveraging toward its target of 2x net debt/adjusted EBITDA within Fiscal Year 2021 “2023. Takeda is committed to rapid deleveraging driven by strong cash flow and divestiture proceeds, while also simplifying our portfolio.

As previously disclosed, Takeda had entered into an agreement for the sale of TachoSil to Ethicon, a Johnson & Johnson company, in May 2019. Takeda and Ethicon agreed to mutually terminate the transaction in April 2020 as a result of anti-trust concerns raised by the European Commission.

Transaction Details

Under the terms of the agreement, upon close, Corza Health will acquire the assets and licenses that support the development and commercialization of TachoSil, while Takeda will maintain ownership of the manufacturing facility in Linz, Austria. Takeda has entered into a long-term manufacturing services agreement, under which it will continue to manufacture TachoSil products and supply them to Corza Health.

The agreement is expected to close by March 31, 2021, subject to the satisfaction of customary closing conditions, receipt of required regulatory clearances and, where applicable, satisfaction of local information and/or consultation requirements. Upon close, approximately 60 Takeda employees will have the opportunity to transition to Corza Health.

Nomura is acting as financial advisor to Takeda and Linklaters LLP is acting as Takedas legal advisor in this transaction.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to bringing Better Health and a Brighter Future to patients by translating science into highly-innovative medicines. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.

For more information, visit

Important Notice

For the purposes of this notice, press release means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company

Limited (Takeda) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, Takeda is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words we, us and our are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takedas future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as targets, plans, believes, hopes, continues, expects, aims, intends, ensures, will, may, should, would, could anticipates, estimates, projects or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takedas global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations; the success of or failure of product development programs; decisions of regulatory authorities and the timing thereof; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takedas operations and the timing of any such divestment(s); and other factors identified in Takedas most recent Annual Report on Form 20-F and Takedas other reports filed with the U.S. Securities and Exchange Commission, available on Takedas website at: or at Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takedas future results.

Investor Relations:

Christopher O’Reilly

[email protected]

+81 (0) 3-3278-2306


Japanese Media

Kazumi Kobayashi

[email protected]

+81 (0) 3-3278-2095

Media outside Japan:

Justine Grosvenor [email protected]

[ +1] 872 226 6701


OTC Markets Group Welcomes NOVONIX LIMITED to OTCQX


NEW YORK, Sept. 28, 2020 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced NOVONIX LIMITED (ASX: NVX; OTCQX: NVNXF), an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 15 countries, has qualified to trade on the OTCQX® Best Market. NOVONIX LIMITED upgraded to OTCQX from the Pink® market.

NOVONIX LIMITED began trading on OTCQX under the symbol "NVNXF" on September 25, 2020. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

"Congratulations to NOVONIX LIMITED on qualifying for the OTCQX Best Market," said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. "We are pleased to support innovative and entrepreneurial international companies seeking to build visibility and tradability in the U.S. public markets. Trading on the ASX in Australia and on the OTCQX Market in the U.S. will enable NOVONIX LIMITED to continue to strengthen engagement with a global investor base."

NOVONIX Chairman, Mr Tony Bellas stated: "We are very excited to increase our presence and accessibility in North America by joining OTCQX Best Market at this important time, as our anode manufacturing ramps-up in the USA and our battery technology development activities expand in Canada.  OTCQX is a logical step in response to the increasing interest we have been receiving from North American and other international investors over this past year."

MCAP LLC acted as the company’s OTCQX sponsor.

NOVONIX LIMITED (ASX:NVX, OTCQX: NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 15 countries.  NOVONIX’s mission is to advance battery technology and materials to accelerate global deployment for a cleaner energy future.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities.  Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, [email protected] 

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InventisBio Announces $147 Million Series D Financing Led by Hillhouse Affiliate GL Ventures


SHANGHAI, Sept. 28, 2020 /PRNewswire/ — InventisBio, a clinical stage biotech company dedicated to the research and development of innovative small molecule drugs, announced the recent completion of a $147 million series D financing which has attracted participation of many top biopharmaceutical and healthcare venture capital funds. This round of investment was led by Hillhouse affiliate GL Ventures, followed by Qiming Venture Partners, Janchor, AIHC Capital, Matrix Partner China, Dyee Capital, E Fund Capital and other investors. The existing shareholders including Lilly Asia Venture, OrbiMed Asia, Pudong Innotek, AdvanTech Capital, and CMB International continued their support. China Renaissance was the exclusive financial advisor of this transaction.

Currently InventisBio has three drug products in the mid- to late-stage clinical development, and one new product just entered global phase I clinical study. Among them, D-0502 is an oral selective estrogen receptor degrader (SERD), which also acts as an estrogen receptor antagonist, with therapeutic potential for the treatment of hormone receptor positive breast cancer. Compared with other oral SERDs under clinical development worldwide, D-0502 has shown promising anti-tumor activity during phase 1 study with excellent bioavailability and tolerable safety profile. In addition, the company has independently developed a third-generation EGFR-T790M tyrosine kinase inhibitor BPI-D0316 and out-licensed China right to Betta Pharma. This product is currently in registration trials of first- and second-line treatment of EGFR-mutated non-small cell lung cancer patients and the trials are progressing smoothly.

Dr. Yaolin Wang, Chairman and CEO of InventisBio, said: "InventisBio is committed to developing first- and best-in-class innovative drugs for cancer and other major diseases. We are grateful and honored to have Hillhouse’s GL Ventures led this series D round and thankful to other top investment funds, as well as the continued support from the existing investors. This investment demonstrated the recognition of our strong pipeline and fully integrated innovative R&D platform by top healthcare investors. It also shows our strategic investors’ confidence in the future success of our company as a key player in the global pharmaceutical market."

Funds raised in this round will be mainly used to support the company’s current products into phase II clinical studies in China and the United States, including D-0502 trials in hormone receptor positive breast cancer and D-0120 trials in gout. This round will also support the company’s global clinical development of other new drugs, enable further expansion of the company’s product pipeline and team.

Michael Yi, co-chief investment officer of Hillhouse Capital and head of biomedicine and medical devices of Hillhouse’s GL Ventures, said: "As a small molecule innovative drug research and development company, InventisBio has an in-depth knowledge of small molecules’ structure activity relationship and integrated understanding and experience in the efficient and successful development of novel molecules. The founding members have more than 20 years of experience in drug discovery and development, thorough understanding of drug’s mechanism of action and selection of lead candidate for development. Since its establishment, InventisBio has balanced innovation and druggability, and has effectively developed multiple assets for diseases with unmet clinical needs. With four drug candidates in various clinical stages and two clinical registration trials ongoing, InventisBio has established its pipeline in two major therapeutic areas of oncology and metabolic diseases. In addition, the company has maintained a leading position in the drug development of similar products in China. We look forward to developing deep collaboration with InventisBio, advancing its drug discovery and clinical development to bring innovative drugs to the market faster to benefit more patients."

About InventisBio

InventisBio is a fast-growing innovative biotech company, co-founded by Dr. Yaolin Wang and other senior scientists. The company’s top management team members have an average of more than 20 years of experience in innovative drug discovery and development, and team management in multinational pharmaceutical companies such as Schering-Plough and Merck, and have contributed to the successful development of blockbuster drugs such as Keytruda and Temodar. The company focuses on the research and development of "best-in-class" and "first-in-class" innovative drugs to address unmet medical needs and to maximize clinical benefits for patients. Under the leadership of senior management team, the company has established a rich pipeline of competitive and proprietary small molecule drugs for the treatment of cancer and metabolic diseases.

About Hillhouse Affiliate GL Ventures

GL Ventures focuses on early-stage innovative companies in healthcare, software services, consumer Internet, emerging consumer brands and services. The GL Ventures team is passionate about partnering with visionary entrepreneurs to create industry leaders that stand the test of time. GL Ventures is the early stage affiliate of Hillhouse Capital, and we have been investing with innovators across the world since 2005. We were one of the earliest investors into some of the largest global companies today, including BeiGene, Zoom, Meituan, JD, Woowa Brothers and many more.

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WRTC INVESTIGATION ALERT: Bernstein Liebhard is Investigating Wrap Technologies Limited For Violations of the Securities Laws


Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Wrap Technologies, Inc. (“Wrap” or the “Company”) (NASDAQ:WRTC) resulting from allegations that Wrap might have issued misleading information to the investing public.

If you purchased Wrap securities, and/or would like to discuss your legal rights and options please visit Wrap Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

On September 23, 2020, White Diamond Research published a report entitled Wrap Technologies: Disastrous LAPD BolaWrap Pilot Program Results, No Evidence These Have Been Communicated To Investors alleging, among other things, that the Companys trial pilot program with the LAPD was a disaster, and that the Company had not disclosed the results to investors.

On this news, securities of Wrap fell $2.07 per share, or 25.43% to close at $6.07 per share on September 23, 2020.

If you purchased Wrap securities, and/or would like to discuss your legal rights and options please visit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journals Plaintiffs Hot List thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Matthew E. Guarnero

Bernstein Liebhard LLP

(877) 779-1414

[email protected]

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