Takeda, TiGenix Sign $400-Million Plus Deal For Crohn’s Disease DrugBy
Takeda Pharmaceutical Company and TiGenix NV, a Belgian biopharmaceutical company, have entered into an exclusive ex-US license, development, and commercialization agreement for Cx601, a suspension of allogeneic adipose-derived stem cells (eASC) injected intra-lesionally for the treatment of complex perianal fistulas in patients with Crohn's disease, in a deal valued up to more than EUR 400 million ($442 million).
Under the agreement, TiGenix will receive an upfront cash payment of EUR 25 million ($27.6 million). TiGenix will be eligible to receive additional regulatory and sales milestone payments for up to a potential total of EUR 355 million ($392 million) and double-digit royalties on net sales by Takeda. The first anticipated milestone payment is EUR 15 million ($16.6 million) upon obtaining the marketing authorization of Cx601 in the European Economic Area (EEA). In addition, Takeda will make an equity investment of EUR 10 million ($11 million) in the share capital of TiGenix within the next 12 months.
Following marketing authorization in the European Union, Takeda will become the marketing authorization holder and will be responsible for all commercialization and regulatory activities. Takeda will also be responsible for additional development activities of Cx601 for the indication of complex perianal fistulas in Crohn's disease. TiGenix will retain the rights to develop Cx601 in new indications.
Source: Takeda Pharmaceutical Company