Canada's Xenon Pharmaceuticals has agreed to license out the rights to its lead product for pain, XEN401, for Japan and certain Asian markets to Takeda for up to $75.5 million in up-front, development and sales payments and a $5 million equity investment. Takeda also agreed to unspecified milestones and royalties. The drug is in preclinical development. Takeda has been cutting a string of licensing deals as it boosts its R&D spending.
"There is a genuine need for improved pain treatments and such treatments are strategically linked to Takeda's core therapeutic areas including diabetes, oncology, and bone/joint disease," said Yasuchika Hasegawa, president of Takeda. "We have been very impressed by Xenon and we look forward to working with them in pursuing the clinical development of XEN401."
- see the release on the deal
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