The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on September 5 a loan agreement with Astellas US Holding, Inc. (AUSH), a U.S. subsidiary of Astellas Pharma Inc. (Astellas), amounting to up to USD500 million (JBIC portion).

The loan is co-financed with private financial institutions, bringing the total co-financing amount to approximately USD1,911 million.

This loan is intended to finance part of the funds necessary for Astellas to acquire a U.S. company IVERIC bio, Inc. (Iveric Bio). The acquisition price is approximately USD5,900 million.

Iveric Bio is a science-driven biopharmaceutical company focused on the discovery and development of novel treatments for retinal diseases. Through this acquisition, Astellas intends to make a new revenue-generating pillar with the addition of Iveric Bio's pipeline, including Avacincaptad Pegol, a treatment for geographic atrophy (GA)*1 secondary to age-related macular degeneration (AMD)*2, to its pipeline. Astellas also aims to further improve its R&D capability and technological strength as well as sales capability in the field of ophthalmology, by obtaining Iveric Bio's development expertise, research platform, and commercial team. This loan supports the overseas business deployment of Astellas, a Japanese company, by providing necessary long-term funds for M&As and with that, supports the overseas expansion of existing business, as well as new business deployment, and contributes toward maintaining and strengthening the international competitiveness of Japanese industries.

As Japan's policy-based financial institution, JBIC will continue to support overseas M&A activities of Japanese companies and their overseas business expansion in collaboration with private financial institutions.

Note

*1

Age-related atrophy of tissues in the macula, which has a high concentration of photoreceptor cells, which detect the shape and color of objects.

*2

A disease in which the macula swells or bleeds for reasons such as aging, causing low or restricted vision. It may cause blindness depending on the progression.

For further information

Mr.Oono or Mr.Iseki

Press and External Affairs Division, Corporate Planning Department

Tel: +81-3-5218-3100

Fax: +81-3-5218-3955

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