Seijiro Shirahama and FRACTALE Corporation completed the acquisition of Cytori Therapeutics K.K. and Cell Therapy Assets in Japan.
April 24, 2019
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Seijiro Shirahama and FRACTALE Corporation (TSE:3750) entered into an asset and equity purchase agreement to acquire Cytori Therapeutics K.K. and Cell Therapy Assets in Japan for $3 million on April 19, 2019. Both Seijiro Shirahama and Cytori Therapeutics have made customary representations, warranties and covenants in the purchase agreement, which is subject to termination by either Cytori Therapeutics or Seijiro Shirahama upon the occurrence of specified events. As of December 2018, Cytori Therapeutics K.K. reported net assets of $19.8 million, total assets of approximately $2 million, sales of $2 million, operating profit of $0.9 million and net income of $0.7 million. The transaction is subject to the satisfaction or waiver of various conditions and is expected to close on or before April 30, 2019. David Lee and Cheston Larson of Latham & Watkins LLP acted as legal advisors for Cytori Therapeutics. Raku Raku of Anderson Mori and Tomotsune acted as legal advisor to Seijiro Shirahama. Ashish Chabria and Aryeh Sand of TAP Advisors acted as financial advisor to Cytori Therapeutics.
Seijiro Shirahama and FRACTALE Corporation (TSE:3750) completed the acquisition of Cytori Therapeutics K.K. and Cell Therapy Assets in Japan on April 25, 2019. Cytori Therapeutics, Inc. (NasdaqCM:CYTX) will use $1.4 million to pay down principal, interest and fees.
Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company. The Company is developing targeted radiotherapeutics with advanced platform technologies for central nervous system (CNS) cancers. The Company combines image-guided local beta radiation and targeted drug delivery approaches. The Company is advancing a pipeline of product candidates with lead programs in recurrent glioblastoma (GBM) and leptomeningeal metastases (LM). Its radiotherapeutic candidate, rhenium (186Re) obisbemeda, is designed specifically for CNS cancers including GBM, LM, and pediatric brain cancers (PBC). The Companyâs Rhenium (186Re) obisbemeda, a novel injectable radiotherapy designed to deliver targeted, high dose radiation directly into GBM tumors. Its radiotherapeutic candidate, Rhenium-188 NanoLiposome Biodegradable Alginate Microsphere (188RNL-BAM), is designed to treat many solid organ cancers.