PeptiDream Inc. (TSE:4587) concluded a contract to acquire PharmaDesign Inc. from Toshio Furutani, Kishida Chemical Co., Ltd, HPC Systems, Inc. and other shareholders for approximately ¥110 million in cash on June 19, 2015. PeptiDream, Inc. will take over the entire business of PharmaDesign Inc. Toshio Furutani will sell 60.3% stake, Kishida Chemical Co., Ltd will sell 7.7% stake and HPC Systems, Inc. will sell 7% stake. PharmaDesign Inc. reported sales of ¥87 million and current loss of ¥24 million for the period ending March 31, 2015.

The Board of Directors of PeptiDream passed a resolution for the transaction on June 19, 2015. The transaction is expected to close on August 1, 2015.