On March 9, 2021 Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) ("Takeda") reported the exercise of its option to acquire Maverick Therapeutics, Inc. a private biopharmaceutical company pioneering conditionally active bispecific T-cell targeted immunotherapies (Press release, Takeda, MAR 9, 2021, View Source [SID1234576342]). Under the agreement, Takeda will obtain Maverick’s T-cell engager COBRA platform and a broad development portfolio, including Maverick’s lead development candidate TAK-186 (MVC-101) currently in a Phase 1/2 study for the treatment of EGFR-expressing solid tumors, and TAK-280 (MVC-280), which is anticipated to enter the clinic in the second half of Takeda’s fiscal year 2021 for the treatment of patients with B7H3-expressing solid tumors. After closing of the transaction, Maverick employees, including its team of talented scientists, will join Takeda’s Research & Development organization.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
"Collaboration is paramount to our R&D strategy and our pursuit of novel approaches to treat cancer," said Chris Arendt, Ph.D., head of the Oncology Therapeutic Area Unit of Takeda. "By supporting pioneers like Maverick working in emerging areas of science, we can share expertise, resources and risk to bring transformational new therapies to patients faster. Maverick’s cutting-edge COBRA platform is an exciting addition to our oncology portfolio that provides a novel conditional bioengineering approach to advance redirected immunotherapies against solid tumors."
Maverick’s COBRA platform is designed to safely target a broad range of solid tumors with highly specific and potent activity while limiting toxicities in normal tissues. Unlike standard T-cell engaging immunotherapies that are systemically active when administered, COBRA-engineered, protein-based therapies are engineered to exploit the tumor microenvironment, triggering T-cell-mediated killing only at the site of the tumor while sparing damage to patients’ healthy tissues. The COBRA platform complements Takeda’s approach to redirecting immune cells to target cancer with the potential to unlock efficacy in solid tumors.
The acquisition follows a multi-year collaboration between Takeda and Maverick signed in 2017 to develop conditionally active T-cell engager therapies, in which Takeda received an equity stake and an exclusive right to purchase Maverick after five years. Based on the success of the lead programs and the promise of the COBRA platform, Takeda exercised its option to acquire Maverick for a pre-negotiated upfront payment as well as potential development and regulatory milestones totaling up to $525 million, subject to certain adjustments, including for Takeda’s current equity stake and Maverick debt. The deal is expected to be finalized in Q1 of Takeda’s fiscal year 2021. Closing of the transaction is contingent on completion of review under antitrust laws, including the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 in the U.S.
"Takeda’s exercise of their purchase option is a tribute to the Maverick team’s singular focus on improving outcomes for patients with solid tumor cancers," said James Scibetta, CEO of Maverick Therapeutics. "Through the acquisition, patients will benefit from the expansion of resources and experience Takeda brings to accelerate development of our COBRA-derived therapies. Takeda has been an excellent partner since Maverick’s inception, venerating our independence through a period marked by rapid innovation, providing actionable consultation, and providing direct cell line development and manufacturing support through the COVID-19 pandemic to keep us on our aggressive schedule."
Takeda’s Commitment to Oncology
At Takeda Oncology, we aspire to cure cancer, with inspiration from patients and innovation from everywhere. We ensure a tight connection from research to development to commercialization to rapidly meet the needs of the cancer community, optimizing our ability to bring transformative medicines to patients. Our demonstrated leadership in the treatment of hematologic cancers and solid tumors combined with cutting-edge science through multiple platforms, partnerships and therapeutic approaches, enable us to bring novel medicines to patients worldwide. For more information, visit www.takedaoncology.com.