Alternative investment firm Bain Capital announced on Friday that it has signed a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation (MTPC) in a carve-out transaction from Japan's Mitsubishi Chemical Group Corporation (TYO:4188).

The deal, valued at approximately JPY510bn (USD3.3bn), is led by Bain Capital's Private Equity teams in Asia and North America, alongside the firm's Life Sciences team.

Founded in 1678 and headquartered in Osaka, MTPC focuses on immunology, inflammation, vaccines, central nervous system disorders, diabetes and metabolic diseases. The company employs over 5,000 people worldwide.

As an independent entity, MTPC plans to expand its internal product development and pursue external licensing and acquisitions. Bain Capital's investment will support business development, commercialisation and strategic R&D initiatives.

Subject to regulatory clearance, shareholder approval and other customary closing conditions, the transaction is expected to close in the third quarter of 2025.