Takeda, Crescendo Biologics in Therapeutics Pact Worth Up to $790 MillionBy
Takeda Pharmaceutical Company has formed a collaboration with Crescendo Biologics Limited, a Cambridge, UK-based biopharmaceutical company, to discover, develop, and commercialize Humabody-based cancer therapeutics in a deal worth up to $790 million. Humabody products are a class of small protein therapeutics based on fully human variable heavy domain building blocks.
Under the agreement, Crescendo is eligible to receive up to $36 million, in a combination of an upfront payment, investment, research funding, and preclinical milestones. Takeda will have the right to develop and commercialize Humabody-based therapeutics resulting from the collaboration. Crescendo is also eligible to receive further clinical development, regulatory and sales-based milestone payments of up to $754 million. In addition, Crescendo will be eligible to receive royalties on Humabody-based product sales by Takeda.
Takeda signed agreements with Crescendo Biologics through its wholly owned subsidiary, Millennium Pharmaceuticals.
Crescendo is building a pipeline of differentiated medicines, including Humabody drug conjugates and multi-specific immuno-oncology modulators, through in-house development and strategic partnerships. Crescendo’s technology platform is centered on a proprietary transgenic mouse, which enables in vivo maturation to be harnessed, optimizing the affinity and biophysical properties of Humabodies, according to information from the company.
Source: Takeda Pharmaceutical Company