Shionogi & Co., Ltd. announced on October 5, 2026 that its Board of Directors approved an agreement to acquire IntraBio Inc., a biopharmaceutical company focused on rare neurodegenerative diseases, for US$2 billion in upfront consideration. The transaction will make IntraBio a wholly owned subsidiary of Shionogi Inc., the company's subsidiary based in New Jersey. The acquisition adds AQNEURSA (levacetylleucine), an approved therapy for Niemann-Pick disease type C and Ataxia-Telangiectasia, to Shionogi's expanding rare disease portfolio.
Transaction Structure and Financial Terms
Under the agreement, Shionogi Inc. will acquire all outstanding shares of IntraBio for an upfront payment of US$2 billion to existing shareholders. IntraBio, founded in 2015 and headquartered in Austin, Texas, reported net sales of US$67.9 million and an operating loss of US$35.3 million for fiscal year 2025. The transaction is expected to close between November 2026 and December 2026, subject to competition law clearances and other customary conditions.
The shares will be acquired from existing shareholders, including individuals, trusts, and corporate entities, whose identities were not disclosed at their request. Shionogi has no capital, personal, or business relationship with these shareholders. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor to Shionogi, and Goldman Sachs & Co. LLC provided financial advice, while Centerview Partners LLC and Morgan Stanley & Co. LLC advised IntraBio.
AQNEURSA Approval and Rare Disease Momentum
AQNEURSA was first approved by the U.S. Food and Drug Administration in September 2024 for neurological manifestations of Niemann-Pick disease type C in adults and pediatric patients. The European Medicines Agency approved the therapy for the same indication in January 2026. On September 18, 2026, the FDA approved AQNEURSA for the treatment of Ataxia in adults and pediatric patients with Ataxia-Telangiectasia, making it the first and only approved medicine for this indication.
The therapy is currently under review by the European Medicines Agency for adult and pediatric patients with Ataxia-Telangiectasia. The planned acquisition follows Shionogi's April 2026 acquisition of global rights to edaravone, marketed as RADICAVA in the United States and RADICUT in Japan. Following the IntraBio closing, Shionogi will hold global rights to AQNEURSA, including intellectual property and commercialization rights.
Pipeline and Strategic Benefits
IntraBio's rare disease expertise will strengthen Shionogi's capabilities across its broader pipeline, which includes clinical programs in Pompe disease, Fragile X syndrome, and Jordan's syndrome. The company also gains additional early-stage rare neurodegenerative disease programs through the transaction. Shionogi stated that the combined portfolio supports acceleration of innovative treatment options for patients with significant unmet needs.
Isao Teshirogi, Ph.D., Chief Executive Officer of Shionogi, said the planned acquisition demonstrates the company's commitment to building a leading global rare disease business. He noted that Shionogi is applying the same focus and determination from infectious disease to rare diseases. Nathan McCutcheon, President and CEO of Shionogi Inc., said the milestone provides an opportunity to deliver the first and only therapy for Ataxia-Telangiectasia to patients who have long lacked treatment options.
Shionogi expects the transaction to support healthcare professionals and deliver AQNEURSA to patients who may benefit from treatment. The company said the impact on consolidated financial results for the fiscal year ending March 2027 is under review and will be disclosed when required. The planned acquisition represents a significant step in Shionogi's strategy to strengthen rare disease as a growth area while addressing serious unmet medical needs for patients around the world.