AsianScientist (Jun. 17, 2016) – Ultragenyx Pharmaceutical Inc., a US-based biopharmaceutical company focusing rare and ultra-rare genetic diseases, and Japan-based Takeda Pharmaceuticals have announced a strategic partnership to develop and commercialize therapies to treat rare genetic diseases.
Takeda will invest up to US$65 million in Ultragenyx in two tranches, the first of which will comprise a US$25 million stock purchase along with a US$15 million cash premium at closing.
Ultragenyx will initially receive an exclusive license to a pre-clinical Takeda product candidate in a pre-determined field of use, and will have an exclusive option to co-develop and co-commercialize the product candidate in additional therapeutic areas.
The companies have also established a five-year research collaboration in which Ultragenyx will have the option to license up to five additional Takeda product candidates for rare diseases after the parties agree on and conduct initial validation activities under the purview of a Joint Research Committee.
“This broad collaboration provides Ultragenyx with a product opportunity that is approaching clinical-stage development, as well as a potential continued source of new product candidates that will help us achieve our goal of bringing a new therapy into the clinic every one to two years,” said Dr. Emil D. Kakkis, CEO of Ultragenyx.
Takeda will receive an exclusive option to commercialize any licensed products resulting from the collaboration in Asia, including Japan. In addition, Takeda will receive an option to exclusively license one Ultragenyx pipeline product in Japan.
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Source: Takeda; Photo: Takeda & Ultragenyx Pharmaceuticals.
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