Japanese drugmaker Astellas Pharma Inc. acquired U.K.-based gene therapy company Quethera Ltd.
The transaction may be worth up to £85 million, including up-front payment and certain contingent payments to Quethera shareholders.
Privately held Quethera, which develops treatments for eye diseases such as glaucoma, became a wholly owned subsidiary of Astellas with the closing of the deal.
Astellas now owns Quethera's gene therapy programs, including its lead candidate which is in preclinical development as a potential treatment for glaucoma.
The transaction will be immaterial to Astellas' financial results for the fiscal year ending March 31, 2019, the company said.