Takeda, Evox in $882-M Deal for Rare DiseasesBy
Takeda has formed a licensing pact with Evox Therapeutics, an Oxford, UK-headquartered biopharmaceutical company, in a deal worth up to $882 million ($44 million upfront) for the development of protein-replacement and mRNA therapies.
The multi-target collaboration is focused on developing up to five novel protein-replacement and mRNA therapies, including Evox’s preclinical program in Niemann-Pick disease type C (NPC) and a second new program directed at another undisclosed rare disease. As part of the deal, Takeda also has the option to select up to three additional rare-disease targets.
Under the agreement, Evox will be eligible to receive up to $44 million in upfront, near-term milestone payments and research funding. In total, Evox is eligible to receive approximately $882 million in upfront, development, and commercial milestone payments from Takeda. Evox will also receive tiered royalties on net sales of each product.
Under the agreement, Evox will be primarily responsible for research and development activities for each program until investigational new drug (IND)-enabling studies and for manufacturing up to and including Phase I clinical trials. Takeda will reimburse Evox for manufacturing costs incurred after the preclinical handover of the programs.
Source: Evox Therapeutics