Dainippon’s Cynata Quest Falls Through As Sides Remain Apart
Japanese firm backs off potential acquisition of Australian cell therapy venture after the two sides fail to agree on deal terms.
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Diversified Japanese giant gains global rights to Cynata’s novel therapy for GvHD as part of continued push into cell and regenerative medicine, amid ongoing discussions between Sumitomo Dainippon and the Australian bioventure over a potential wider acquisition.
Sumitomo Dainippon's planned $3bn deal with Roivant goes some way to fulfilling the Japanese firm's strategic needs, but investors appear cool and questions remain.