Takeda takes out second licence on Crescendo Biologics’ Humabody therapeutics
Crescendo Biologics has enjoyed further success in its $754million collaboration with Takeda Pharmaceutical Company, which has taken out a second exclusive licence on one of its therapeutics.
Babraham Research Park-based Crescendo is developing novel cancer drugs called Humabodies, a class of small, potent protein therapeutics based on a specific building block of a human antibody known as the VH domain.
Takeda has taken an exclusive licence to Humabodies directed to another of its oncology targets, which has not been disclosed.
Theodora Harold, who took over from Peter Park as CEO of Crescendo earlier this year, said: “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.”
This is the second option exercised by Takeda under its existing, multi-target collaboration and license agreement announced in October 2016.
The deal giees Takeda received the right to develop and commercialise Humabody-based therapeutics resulting from the collaboration. Crescendo is eligible to receive clinical development, regulatory and sales-based milestone payments of up to $754million plus royalties on Humabody-based product sales by Takeda.
Chris Arendt, head of the oncology drug discovery unit and immunology unit at Takeda, said:
“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.”
Crescendo shared the Biotech Company of the Year title in the 2018 Cambridge Independent Science and Technology Awards with F-star.