Takeda Pharmaceutical is planning to purchase Belgium-based biopharmaceutical company TiGenix for €1.78 per share, amounting to a total value of around €520m on a fully diluted basis.

The potential voluntary public takeover bid will involve 100% of the securities with voting rights or providing voting rights of TiGenix that are not already held by Takeda or its affiliates.

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Through the deal, Takeda intends to expand its late-stage gastroenterology pipeline and bolster footprint in a specialist care US market.

The acquisition will also extend the ongoing partnership between the firms for the development and commercialisation of Cx601 (darvadstrocel) to treat complex perianal fistulas in Crohn’s disease.

Cx601 is an allogeneic expanded adipose-derived stem cells (eASC) suspension formulated for local administration for treating patients who have had an inadequate response to a minimum of one conventional or biologic therapy.

“I have had the opportunity to work alongside the TiGenix team throughout our collaboration and know that we have shared goals and varied, but complementary expertise.”

The drug candidate is currently under a global, pivotal Phase III trial for US registration in non-active/mildly active luminal Crohn’s disease patients with complex perianal fistulas.

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Takeda Pharmaceutical chief medical and scientific officer Andrew Plump said: “Limited treatment options exist today and I believe we can be most effective in serving this population by working in collaboration with partners whose unique skill sets allow us to more efficiently explore innovative approaches, including stem cell therapies.

“I have had the opportunity to work alongside the TiGenix team throughout our collaboration and know that we have shared goals and varied, but complementary expertise. I am thrilled at the prospect of welcoming them as part of our organisation.”

With operations in Spain and the US, TiGenix focuses on anti-inflammatory properties of allogeneic or donor-derived stem cells for developing therapies to address serious medical conditions.