Takeda, Denali Therapeutics Partner for Neurodegenerative Diseases
Takeda Pharmaceutical has signed an agreement with Denali Therapeutics, a San Francisco, California-headquartered biotechnology company developing drugs for treating neurodegenerative diseases, to develop and commercialize up to three specified therapeutic product candidates for neurodegenerative diseases.
Each program is directed to a genetically validated target for neurodegenerative disorders, including Alzheimer’s disease and other indications, and incorporates Denali’s antibody transport-vehicle platform for increased exposure of biotherapeutic products in the brain.
Under the agreement, Takeda will make an initial payment to Denali of $150 million through a combination of cash upfront payments and the purchase of Denali equity. In addition, Denali is eligible to receive development and commercial milestone payments, including $90 million in preclinical milestones and opt-in payments.
Denali will be responsible for all development activities and costs prior to investigational new drug filing for each of the three programs. Takeda has the option to co-develop and co-commercialize each of the three programs. If Takeda exercises the option, the parties will then jointly conduct clinical development and share all costs equally. Denali will lead early-stage clinical-development activities and Takeda will lead late-stage clinical-development activities. Takeda and Denali will jointly commercialize products in the US and China, and Takeda will have exclusive commercialization rights in all other markets. The parties will share global profits equally. The agreement will become effective when the requirements of the Hart–Scott–Rodino Antitrust Improvements Act of 1976 have been satisfied.
Source: Takeda Pharmaceutical