Stem Cell Co. in Marlborough Gets Buyout Offer for $379 Million

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A Japanese company has offered a Marlborough stem cell company a $379 million acquisition offer.

Astellas Pharma announced this week an offer of $850 per share to buy Ocata, reports Boston Business Journal.

The company has been around for twenty years, and “struggled with political backlash, corruption and short-seller attacks over its two-decade history before hitting early-stage success with a potential cure for a disease that causes blindness,” said the BBJ.

Directors of both companies approved the agreement, which needs to pass approval of Ocata’s shareholders.

Ocata Therapeutics, Inc. was formerly named Advanced Cell Technology, and is a clinical stage biotechnology company focused on the development and commercialization of regenerative medicine and cell therapy technologies, according to its website. It lists advanced products such as clinical trials for the treatment of Stargardt’s macular degeneration and myopic degeneration.