Takeda Pharmaceuticals and Denali Therapeutics have entered a partnership to develop and commercialise therapies for multiple neurodegenerative diseases.
The collaboration will see the companies produce up to three specified therapeutic product candidates which will target a specific neurodegenerative disorder, including Alzheimer’s disease and other indications.
At the forefront of the work will be Denali’s ATV technology, which aims to increase exposure of biotherapeutic products for the brain.
Ryan Watts, chief executive officer of Denali, said: “We are impressed with Takeda’s commitment to developing treatments for difficult to treat neurodegenerative disease and look forward to partnering with them to bring medicines to patients.
“Takeda has a great track record of partnering with biotech firms in addition to unique development expertise and a strong global commercial presence.”
Under the terms of the agreement, Takeda will make an initial payment of $150m through a combination of cash payments and the purchase of Denali equity.
In addition, the San Francisco-based biopharma is eligible to receive development and commercial milestone payments, including $90m in preclinical milestones and opt-in payments.
Emiliangelo Ratti, head of neuroscience therapy area at Takeda, said: “We are excited to partner with the Denali team, whose innovative technology is uniquely poised to deliver the next generation of antibody therapeutics for patients.”
Despite Takeda’s recent investment in the area, its US and Irish counterparts has recently turned its back on neuroscience work with Pfizer recently exiting its early-stage R&D programmes and Shire separating out its neuroscience interests, possibly as a precursor to divestment.