Japan's largest drug maker, Takeda Pharmaceutical Co., said Monday it will acquire Syrrx Inc., a privately held California biotechnology company working on treatments for cancer and diabetes.
Takeda will buy San Diego-based Syrrx for about $270 million, Takeda said.
The purchase will give Takeda access to high-level talent and new medical research innovations. The Japanese company was also eager to have a research base in the United States, the world's largest pharmaceutical market and a center for medical research.