On February 7, 2025, Bain Capital announced a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation (MTPC) from Mitsubishi Chemical Group Corporation in a carve-out transaction valued at approximately 510 billion JPY (3.3 billion USD), equivalent to approximately 4.71 billion CAD at the time of the announcement. Founded in 1678 and headquartered in Osaka, Japan, MTPC specializes in therapeutic areas such as immunology, inflammation, vaccines, central nervous system disorders, diabetes, and metabolic diseases, employing over 5,000 people globally.

As an independent entity, MTPC aims to enhance its legacy of medical innovation by investing in internal product development, external licensing, and strategic acquisitions. The investment is led by Bain Capital’s Private Equity teams in Asia and North America, alongside its Life Sciences team. Mitsubishi UFJ Morgan Stanley Securities and BofA Securities acted as financial advisors, while Morrison Foerster, Mori, Hamada & Matsumoto, and Ropes & Gray provided legal counsel to Bain Capital. Davies Ward Phillips & Vineberg LLP served as Canadian counsel to Bain Capital.

The transaction is expected to close in Q3 2025, subject to regulatory approvals and customary closing conditions.