Astellas Pharma Inc. has completed the acquisition of IVERIC bio, Inc., a biopharmaceutical company, through its indirect wholly owned subsidiary Berry Merger Sub, Inc. Iveric Bio is now Astellas’ wholly owned subsidiary.

Iveric Bio is an innovative biopharmaceutical company focused on the discovery and development of treatments for retinal diseases with significant unmet medical needs.

“We are very pleased to welcome Iveric Bio and its highly experienced professionals in the ophthalmology field, as a member of Astellas,” said Naoki Okamura, President, and CEO, Astellas. “By combining the capabilities of Astellas and Iveric Bio, we will potentially contribute to millions of patients around the world who are suffering from ophthalmologic diseases with fear of vision loss.”

Pravin Dugel, president of Iveric Bio, said, “We believe that along with our colleagues at Astellas, we are well-positioned to become the leader in the development and commercialization of differentiated treatments for retinal diseases. We are excited about the opportunities that are before us as both companies combine existing strengths and prepare for the potential approval and launch of Avacincaptad Pegol for the treatment of Geographic Atrophy secondary to Age-Related Macular Degeneration, a devasting disease that leads to irreversible blindness.”