On July 23, 2019 Crescendo Biologics Ltd (Crescendo), the drug developer of novel, targeted T-cell enhancing therapeutics, reported that Takeda Pharmaceutical Company Limited (Takeda), has exercised a second option under its existing, multi-target collaboration and license agreement (Press release, Crescendo Biologics, JUL 23, 2019, View Source [SID1234537677]). Takeda has taken an exclusive license to Humabodies directed to another of its oncology targets.
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This is the second license option that Takeda has exercised under the agreement with Crescendo and relates to the continued progression of an immuno-oncology programme. The license marks the successful delivery and further pre-clinical evaluation by Takeda of Humabody leads meeting its stringent criteria.
Theodora Harold, CEO of Crescendo, commented:
"This exciting news further underlines Crescendo’s ability to deliver innovative Humabody therapeutics which consistently meet the exacting specifications set by Takeda for progression towards the clinic. We are delighted that our close collaboration with Takeda continues to be so productive and we look forward to more successes in the future."
Chris Arendt, Head, Oncology Drug Discovery Unit & Immunology Unit, Takeda, commented:
"We are pleased that our partnership with Crescendo has continued to be fruitful in leading to another successful in-licensing milestone. This exciting immuno-oncology candidate Humabody that our teams have advanced through close collaboration aligns well with our ongoing efforts to pursue diverse modalities with transformative treatment potential."
Takeda’s option is part of the existing multi-target collaboration and license agreement announced in October 2016 in which Takeda received the right to develop and commercialize Humabody-based therapeutics resulting from the collaboration. Under the agreement, Crescendo is eligible to receive clinical development, regulatory and sales-based milestone payments of up to $754 million plus royalties on Humabody-based product sales by Takeda.