JSR Corp. agreed to acquire 100% ownership of Crown Bioscience International and make it a subsidiary.
Crown is a contract research organization providing services to pharmas to support drug development in preclinical phases.
JSR will pay out a total of about ¥44 billion to Crown shareholders. Crown will delist from the Taipei Exchange immediately after the transaction.
After the acquisition, JSR will expand from research, drug discovery and diagnostics development, to cell line development, process development and manufacturing.
JSR expects to close the transaction by the end of June 2018. The execution of the deal is subject to resolution of a shareholders' meeting of the company and approvals of related authorities.
As of Dec. 19, US$1 was equivalent to 112.98 Japanese yen.