Business Deal Asahi Kasei Completes Acquisition of German-based Biopharmaceutical Firm Aicuris

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With an aim to accelerate Asahi Kasei’s efforts to build a global specialty pharmaceutical platform, the company has successfully completed the acquisition of Aicuris, a German-based biopharmaceutical company.

Tokyo/Japan – Asahi Kasei has announced the successful completion of its acquisition of Aicuris Anti-infective Cures (Aicuris), a German-based biopharmaceutical company. This closing marks a key step in accelerating the company’s efforts to build a global specialty pharmaceutical platform by expanding further into severe infectious diseases.

“The completion of the Aicuris acquisition reflects the deliberate execution of our pharmaceutical strategy and strengthens our position in infectious diseases, a core area where we see sustained demand, high unmet need, and long-term growth,” stated Ken Shinomiya, Head of Asahi Kasei’s Healthcare Sector. “Aicuris adds a differentiated portfolio and scientific capabilities that enhance the quality of our pipeline, while also providing a near-term commercial opportunity. By integrating Aicuris into our global development and commercialization platform, we are further scaling our specialty pharmaceutical business.” Aicuris adds three antiviral assets spanning marketed and clinical-stage development, complementing Asahi Kasei’s existing treatment portfolio. This includes a consistent royalty stream from Prevymis; a near-term commercial opportunity with pritelivir, for which the U.S. Food and Drug Administration (FDA) granted Priority Review to the New Drug Application, with a Prescription Drug User Fee Act (PDUFA) target date in the fourth quarter of 2026; and AIC468 as a longer-term growth driver.

These assets address growing market opportunities across transplant and infectious disease environments. Prevymis generates a growing royalty stream, which includes key milestone payments. Based on current projections, annual royalty revenue is expected to range from 100 million dollars to 200 million dollars over the course of the agreement, depending on sales levels. Pritelivir is anticipated to address approximately 15,000 immunocompromised patients in the U.S. and is projected to achieve meaningful penetration in the second-line setting, potentially approaching 70 %, subject to market conditions. Peak revenue from pritelivir is projected to exceed 400 million dollars in the mid- to late 2030s.

AIC468, which has completed a Phase I clinical trial, is being developed for BK virus infection in kidney transplant and hematopoietic stem cell transplant recipients, an area of increasing clinical importance with a potential market opportunity estimated at over 1 billion dollars. Together, these assets provide a balanced mix of royalty income, near-term commercial opportunity, and pipeline-driven growth, with Aicuris revenue expected to reach 500 million dollars by 2030, excluding AIC468. This acquisition supports Asahi Kasei’s strategic focus on pharmaceuticals as a priority growth area under its medium-term management plan, reflecting a disciplined approach to capital allocation and portfolio transformation. Asahi Kasei plans to advance Aicuris’s portfolio through its U.S. subsidiary, Veloxis Pharmaceuticals, an established leader in transplant medicine. Veloxis’s expertise in transplant immunology, paired with its R&D capabilities and established commercial infrastructure, is expected to support pipeline advancement and future commercialization.

“We see strong strategic alignment between Veloxis and Aicuris under the Asahi Kasei pharmaceutical strategy,” said Stacy Wheeler, Chief Executive Officer of Veloxis. “Aicuris’s infectious disease experience, together with Veloxis’s established transplant-focused research and commercialization capabilities, provides a solid foundation to support development efforts that address areas of unmet need among immunocompromised patients.” Asahi Kasei expects the acquisition to contribute positively to operating income after amortization of goodwill and other intangible assets from fiscal 2028 onward.

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