Date: 2017-01-11
Type of information: Development agreement
Compound: T-cell engagement platform
Company: Takeda Pharmaceutical (Japan) Maverick Therapeutics (USA - CA)
Therapeutic area: Cancer - Oncology
Type agreement: development
Action mechanism:
Disease:
Details: * On January 11, 2017, Maverick Therapeutics, an MPM Capital portfolio company, and Takeda Pharmaceutical announced that they have entered a collaboration to develop Maverick’s T-cell engagement platform created specifically to improve the utility of T-cell redirection therapy for the treatment of cancer.
Takeda signed agreements with Maverick Therapeutics through its wholly-owned subsidiary, Millennium Pharmaceuticals.
Financial terms: The $125 million of funding includes an upfront option, equity and research and development funding payments, and provides Takeda the exclusive right to purchase Maverick after five years for an undisclosed sum. MPM’s BioVentures 2014 and the UBS Oncology Impact Fund, managed by MPM Capital, join Takeda in a $23 million Series B Financing as a key element of the financing package. Takeda will add a director to Maverick’s Board. The management team of Maverick will be led by President and Chief Scientific Officer Hans-Peter Gerber, Ph.D., formerly of Pfizer.
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