AsianScientist (Jan. 19, 2017) – Maverick Therapeutics Inc., a private biotech company focused on therapeutic antibodies, has entered a collaboration with Takeda Pharmaceutical Company Limited to develop Maverick’s T-cell engagement platform created specifically to improve T-cell redirection therapy for the treatment of cancer.
The US$125 million of funding includes an upfront option, equity and research and development funding payments, and provides Takeda the exclusive right to purchase Maverick after five years for an undisclosed sum. Takeda signed agreements with Maverick Therapeutics through its wholly-owned subsidiary, Millennium Pharmaceuticals, Inc.
“We believe that this collaboration validates Maverick’s approach to T-cell engagement in the tumor microenvironment which we believe will allow us to address previously intractable oncology targets,” said Dr. Jeanmarie Guenot, Maverick’s co-founder. “Importantly, this strong collaboration should allow us to move rapidly to the clinic and address unmet needs in cancer immunotherapy.”
“We see significant potential in Maverick to develop unique, small and customizable T-cell engagement therapeutics,” said Mr. Phil Rowlands, Interim Head, Oncology Therapeutic Area Unit, Takeda.
MPM’s BioVentures 2014 and the UBS Oncology Impact Fund, managed by MPM Capital, join Takeda in a US$23 million Series B Financing as a key element of the financing package. Takeda will add a director to Maverick’s Board and the management team of Maverick will be led by President and Chief Scientific Officer Dr. Hans-Peter Gerber, formerly of Pfizer.
Source: Takeda; Photo: Shutterstock.
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