OSAKA, Japan & AUSTIN, Texas--(BUSINESS WIRE)--Takeda Pharmaceutical Company Limited (TSE: 4502) and Molecular Templates, Inc. today announced a collaboration agreement for oncology drug discovery programs. The collaboration will apply Molecular Templates’ engineered toxin bodies (ETB) technology platform to potential therapeutic targets provided by Takeda through a joint scientific committee of both companies.
“Over the past year, Takeda has expanded its collaborations in the Oncology space with the aim of accessing highly-innovative platforms to target specific tumor antigens using novel payloads and modality approaches,” said Christopher Arendt, Ph.D., Head, Oncology DDU & Immunology Unit, Takeda. “In fact, we had already been working with the Molecular Templates team on a program that we have the option to in-license. The announcement of today’s collaboration with Molecular Templates allows us to extend this partnership and leverage their potentially groundbreaking approach to address additional tumors types, including solid tumors. The Molecular Templates team is outstanding, and we look forward to expanding our partnership.”
Under the terms of the agreement, Takeda will make an equity investment and Molecular Templates is eligible to receive upfront payments, development and commercial milestone payments, Takeda has agreed to royalties on the sales of commercial products developed through the collaboration. Under the agreement, Takeda will also appoint a Director to Molecular Templates’ board of directors.
“This collaboration is an exciting opportunity to develop a new class of oncology therapeutics by applying our modified Shiga-like toxin fusion proteins to Takeda’s world-class oncology target portfolio,” said Eric Poma, Ph.D., Molecular Templates’ Chief Executive and Scientific Officer. “Takeda’s oncology expertise and drug development capabilities represent unique assets for combination with our approach to targeting and destroying cancer cells, and we look forward to developing products via this new avenue of oncology research.”
Takeda will have the right to exercise exclusive options to obtain license rights to products resulting from the collaboration. Molecular Templates would be responsible for manufacturing and supply of products licensed for development by Takeda through Phase I clinical development. Additional terms of the agreement are not being disclosed.
Takeda signed this agreement through its wholly owned subsidiary, Millennium Pharmaceuticals, Inc.
About Molecular Templates
Molecular Templates is focused on the discovery, development and commercialization of next-generation immunotoxins called Engineered Toxin Bodies (ETBs) for the treatment of cancers and other serious diseases. For additional information, please visit the Company's website at www.mtem.com.
About Takeda Pharmaceutical Company
Takeda Pharmaceutical Company Limited is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R＆D efforts on oncology, gastroenterology and central nervous system therapeutic areas plus vaccines. Takeda conducts R＆D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology and gastroenterology, as well as Takeda’s presence in Emerging Markets, are currently fueling the growth of Takeda. More than 30,000 Takeda employees are committed to improving quality of life for patients, working with Takeda’s partners in health care in more than 70 countries. For more information, visit www.takeda.com/news.
Takeda’s Forward-Looking Statements
This press release contains “forward-looking statements.” Forward-looking statements include all statements other than statements of historical fact, including plans, strategies and expectations for the future, statements regarding the expected timing of filings and approvals relating to the transaction, the expected timing of the completion of the transaction, the ability to complete the transaction or to satisfy the various closing conditions, future revenues and profitability from or growth or any assumptions underlying any of the foregoing. Statements made in the future tense, and words such as “anticipate,” “expect,” “project,” “continue,” “believe,” “plan,” “estimate,” “pro forma,” “intend,” “potential,” “target,” “forecast,” “guidance,” “outlook,” “seek,” “assume,” “will,” “may,” “should,” and similar expressions are intended to qualify as forward-looking statements. Forward-looking statements are based on estimates and assumptions made by management that are believed to be reasonable, though they are inherently uncertain and difficult to predict. Investors and security holders are cautioned not to place undue reliance on these forward-looking statements.
Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Some of these risks and uncertainties include, but are not limited to: required regulatory approvals for the transaction may not be obtained in a timely manner, if at all; the conditions to closing of the transaction may not be satisfied; competitive pressures and developments; applicable laws and regulations; the success or failure of product development programs; actions of regulatory authorities and the timing thereof; changes in exchange rates; and claims or concerns regarding the safety or efficacy of marketed products or product candidates in development. The forward-looking statements contained in this press release speak only as of the date of this press release, and neither Molecular Templates nor Takeda undertake any obligation to revise or update any forward-looking statements to reflect new information, future events or circumstances after the date of the forward-looking statement. If one or more of these statements is updated or corrected, investors and others should not conclude that additional updates or corrections will be made.