Takeda has agreed to acquire Maverick Therapeutics, a Brisbane, California-based biopharmaceutical company specializing in bispecific T-cell-targeted immunotherapies. for $525 million.

The acquisition follows a multi-year collaboration between Takeda and Maverick signed in 2017 to develop conditionally active T-cell engager therapies, in which Takeda received an equity stake and an exclusive right to purchase Maverick after five years.

With the acquisition, Takeda will obtain Maverick’s T-cell engager COBRA platform and a development portfolio, including Maverick’s lead development candidate, TAK-186 (formerly MVC-101), currently in a Phase I/II study for treating epidermal-growth-factor-receptor (EGFR) expressing solid tumors, and TAK-280 (formerly MVC-280), which is anticipated to enter the clinic in the second half of Takeda’s fiscal year 2021 for treating B7H3-expressing solid tumors.

Maverick’s COBRA platform is designed to target a range of solid tumors with highly specific and potent activity while limiting toxicities in normal tissues. The COBRA platform complements Takeda’s approach to redirecting immune cells to target cancer.

Based on the success of the lead programs and the promise of the COBRA platform, Takeda exercised its option to acquire Maverick for a pre-negotiated upfront payment as well as potential development and regulatory milestones totaling up to $525 million, subject to certain adjustments, including Takeda’s current equity stake and Maverick debt. The deal is expected to be finalized in the first quarter of Takeda’s fiscal year in 2021. Closing of the transaction is contingent on completion of review under antitrust laws, including the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the US.

After closing of the transaction, Maverick employees will join Takeda’s Research & Development organization.

Source: Takeda and Maverick Therapeutics