February 10, 2016

Ocata Therapeutics purchased for $384M

Courtesy photo
Paul K. Wotton, center, and employees of Ocata Therapeutics of Marlborough, participated in the opening bell ceremony at the NASDAQ Marketsite in New York City. The company will no longer be listed as a result of a $384 million purchase.

Tokyo's Astellas Pharma Inc. has completed its $384 million purchase of Marlborough's Ocata Therapeutics.

Astellas completed the purchase of all outstanding stock for Ocata Therapeutics, which researches treatments for eye diseases, through its subsidiary Laurel Acquisition Inc. Laurel was then merged into Ocata on Feb. 10. Neither company has said how the acquisition will impact Ocata's 39 local employees or operations.

The purchase was approved by the boards of directors of Ocata and Astellas. As a result of the merger, Ocata's common stock has ceased to be traded on the NASDAQ Global Market and will no longer be listed.

Comments

Type your comment here:

Today's Poll If you were in charge of a family company would you sell it to a corporation?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media