Takeda Pharmaceutical Co Ltd (NYSE:TAK) has signed up for a gene therapy pact, encoding a $2 billion biobucks deal with Code Biotherapeutics across four programs.
- The collaboration entails deploying Code's non-viral gene therapies against liver-directed rare disease and central nervous system conditions.
- Through the agreement, Takeda and Code Bio will design and develop a targeted gene therapy leveraging Code Bio's 3DNA platform for a liver-directed rare disease program.
- The companies will conduct additional studies for central nervous system-directed rare disease programs.
- Takeda has the right to exercise options for an exclusive license for four programs.
- Under the agreement terms, Code Bio will receive double-digit million dollars in upfront, near-term milestones, and research funding payments.
- Code Bio is also eligible to receive future development and commercial milestone payments plus tiered royalties with a potential total deal value of up to $2 billion if milestones for all four programs are achieved.
- Takeda and Code Bio will collaborate on research activities up to candidate selection. After the option exercise, Takeda will assume responsibility for further development and commercialization.
- Price Action: TAK shares are down 1.89% at $15.06 during the market session on the last check Tuesday.
