Takeda buys US drug-developer Syrxx
Friday, 11 February, 2005
Japanese pharmaceutical giant Takeda has paid US$270 million in cash to acquire Syrxx, a private drug-development company based in San Diego.
Syrxx is a specialist in high-throughput X-ray crystallography, which it uses to design therapeutics to treat metabolic diseases, cancer, and inflammation. It has several compounds for type 2 diabetes in preclinical and early clinical trials.
Takeda is under pressure to use its cash balance of over 1 trillion yen to fill its poor drug development pipeline. It halted development of a promising diabetes drug late last year.
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