Japanese pharmaceutical company Shionogi & Co., Ltd. has announced a planned acquisition of IntraBio Inc., a U.S.-based biopharmaceutical company focused on developing and commercializing treatments for rare neurodegenerative and genetic neurological diseases.
Under the agreement, Shionogi Inc., the company's New Jersey-based subsidiary, will acquire all outstanding shares of IntraBio for an upfront consideration of 2 billion USD. The transaction is expected to make IntraBio a wholly owned subsidiary of Shionogi Inc.
A major component of the proposed acquisition is AQNEURSA® (levacetylleucine), IntraBio's rare disease therapy. AQNEURSA was approved by the U.S. FDA in September 2024 for neurological manifestations of Niemann-Pick disease type C (NPC) in adults and pediatric patients.
The medicine subsequently received approval in the European Union in January 2026 for neurological manifestations of NPC. More recently, on September 18, 2026, the FDA approved AQNEURSA for the treatment of ataxia in adults and pediatric patients with Ataxia-Telangiectasia (A-T).
Shionogi said the acquisition would strengthen its growing rare disease business and give the company global rights to AQNEURSA, including intellectual property and commercialization rights.
The transaction comes as Shionogi expands beyond its traditional strength in infectious diseases and builds a broader portfolio focused on diseases with significant unmet medical needs.
Beyond AQNEURSA, Shionogi expects to gain IntraBio's expertise in rare disease research, development and commercialization. The company said this expertise could strengthen programs across its pipeline, including clinical programs targeting Pompe disease, Fragile X syndrome and Jordan's syndrome. Additional early-stage programs in rare neurodegenerative diseases are also expected to contribute to Shionogi's future development pipeline.
The planned acquisition follows Shionogi's acquisition of global rights to RADICAVA® (edaravone), a treatment for amyotrophic lateral sclerosis, in April 2026. Shionogi said that deal established a commercial foundation for its rare disease business, particularly in serious neurological diseases.
The company now plans to use the IntraBio acquisition to further expand its capabilities and presence in rare diseases across the United States, Europe and other global markets.
Shionogi's board approved the transaction on October 5, 2026, and the acquisition agreement was signed the same day. Completion is currently scheduled between November and December 2026.
The transaction remains subject to customary closing conditions, including applicable competition-law waiting periods and required regulatory approvals and clearances.
According to Shionogi's disclosure, IntraBio reported 67.867 million USD in net sales in 2025, compared with 3.535 million USD in 2024. However, the company reported a net loss of 35.8 million USD in 2025. Shionogi said the impact of the proposed acquisition on its consolidated financial results for the fiscal year ending March 2027 remains under review.
The proposed 2 billion USD acquisition marks another significant step in Shionogi's strategy to establish a global rare disease business. By combining AQNEURSA with IntraBio's development capabilities and rare disease pipeline, Shionogi aims to strengthen its presence in neurological and genetic disorders where treatment options remain limited.
If completed, the acquisition will give Shionogi full ownership of IntraBio and its rare disease assets, adding an already approved medicine alongside a pipeline of potential future therapies.
