Takeda Pharma, Prometheus Biosciences collaborate to develop therapies for IBD
Under the terms of the agreement, Prometheus Biosciences will receive an undisclosed initial upfront payment from Takeda and is eligible to receive up to $420M in development, regulatory, and commercial milestone payments, in total, across all three programs.
New Delhi: Takeda Pharmaceutical Company Limited (Takeda) and Prometheus Biosciences, Inc., a biopharmaceutical company has entered into a global, multi-target strategic collaboration with to discover, develop, and commercialize novel therapies for inflammatory bowel disease (IBD).
The collaboration combines the proprietary bioinformatics discovery platform and companion diagnostic tools developed by Prometheus Biosciences with Takeda's expertise in gastroenterology and drug development, in order to discover and advance up to three targeted IBD therapeutics and companion diagnostics.
Prometheus Biosciences will be responsible for the identification and validation of three unique drug targets for IBD, along with the development and commercialization of companion diagnostics to complement the targeted drugs. Takeda will be responsible for all drug discovery, clinical development, and commercialization activities for the resulting targeted therapeutics.
Under the terms of the agreement, Prometheus Biosciences will receive an undisclosed initial upfront payment from Takeda and is eligible to receive up to $420M in development, regulatory, and commercial milestone payments, in total, across all three programs. In addition, Prometheus Biosciences is eligible to receive royalty payments on global commercial sales from each program.
Commenting on the same, Mark McKenna, chief executive officer, Prometheus Biosciences said, "We are impressed with Takeda's commitment to developing a portfolio of therapies to address all IBD patients, especially those with unmet needs."
"We believe that a targeted, precision medicine approach is needed to deliver new, effective therapeutic options in inflammatory bowel disease. Through our partnership, we are excited to combine the Prometheus bioinformatics platform and advanced machine learning techniques with Takeda's expertise in drug development to deliver a new generation of IBD therapies."