The acquisition can expand Takeda’s immuno-oncology product portfolio to include 2 development candidates and Maverick’s COBRA™ platform, a conditionally active bispecific T cell adapter antibody specifically designed to target solid tumors.
Maverick's lead drug candidate TAK-186 (formerly MVC-101) is a conditionally active T cell adaptor antibody, which entered the clinic for the first time among similar drugs, and has recently launched a phase 1/2 study
The result of the multi-year cooperation of "build first, acquire later" is Takeda's exercise of its right to acquire Maverick, a down payment of up to US$525 million and potential milestone payments after certain adjustments.
March 10, 2021 10:39 AM Eastern Standard Time
Osaka, Japan and Brisbane, California--( Business Wire ) --( BUSINESS WIRE )--Takeda Pharmaceutical Company Limited ( TSE:4502/NYSE:TAK ) ("Takeda") today announced its exercise Option to acquire Maverick Therapeutics, Inc., a private biopharmaceutical company that pioneered conditionally active bispecific T cell targeted immunotherapy. Under this agreement, Takeda will obtain Maverick’s T-cell adapter antibody COBRA™ platform and a broad portfolio of development products, including Maverick’s lead development drug candidate TAK-186 (MVC-101) (currently in the process of treating 1/1/ of solid tumors expressing EGFR). Phase 2 study) and TAK-280 (MVC-280) (expected to enter the clinic in the second half of Takeda's fiscal year 2021 for the treatment of patients with solid tumors expressing B7H3). After the transaction is completed, Maverick’s employees, including its team of talented scientists, will join Takeda’s R&D organization.
Dr. Chris Arendt, Head of Takeda’s Oncology Therapeutics Department, said: “Collaboration is essential to our R&D strategy and our pursuit of new methods of treating cancer. By supporting pioneers like Maverick working in emerging scientific fields, we can Share expertise, resources, and risk to provide patients with transformational new drugs faster. Maverick's cutting-edge COBRA platform is an exciting addition to our oncology product portfolio, and it provides a novel conditional bioengineering approach to advance against entities Redirected immunotherapy for tumors.”
Maverick's COBRA platform is designed to safely target a variety of solid tumors, with high specificity and potent activity, while limiting the toxicity of normal tissues. Unlike standard T-cell engagement immunotherapy with systemic activity at the time of administration, the protein-based therapy designed by COBRA aims to use the tumor microenvironment to trigger T-cell-mediated killing only at the tumor site without damaging the patient's healthy tissues. The COBRA platform can enrich Takeda's method of redirecting immune cells for targeted treatment of cancer, which is expected to be effective against solid tumors.
Prior to this acquisition, Takeda signed a multi-year cooperation agreement with Mavericky in 2017 to develop conditionally active T cell arterial antibody therapies, in which Takeda acquired equity and exclusive rights to acquire Maverick five years later. Based on the success of the pilot project and the prospects of the COBRA platform, Takeda exercised its option to acquire Maverick with a pre-agreed down payment totaling US$525 million and potential development and regulatory milestone payments, subject to certain adjustments, including Takeda’s current The equity and Maverick’s debt. The transaction is expected to close in the first quarter of Takeda's 2021 fiscal year. The transaction depends on the completion of antitrust law reviews, including the Hart-Scott-Rodino (HSR) Antitrust Improvement Act of 1976 in the United States.
James Scibetta, Chief Executive Officer of Maverick Therapeutics, said: "Takeda’s exercise of the right to acquire is a tribute to the Maverick team’s focus on improving the effectiveness of solid tumor cancer patients. Through this acquisition, patients will benefit from Takeda’s increased efforts to accelerate the development of COBRA derivative therapies. Resources and experience. Since the establishment of Maverick, Takeda has been our excellent partner, respecting our independence during the period represented by rapid innovation, providing actionable consultation, and providing direct cell lines during the new crown epidemic. Development and manufacturing support allows us to catch up to the schedule."
Takeda's commitment to oncology
The Takeda Oncology Department is eager for the inspiration from patients and innovations from all sides to cure cancer. We ensure a close relationship from research to development to commercialization to quickly meet the needs of the cancer population and optimize our ability to provide transformational medicines to patients. We demonstrate our leading position in the treatment of hematological cancers and solid tumors through multiple platforms, partnerships and treatment methods. Together with the combination with cutting-edge science, we can provide new drugs to people around the world. For more information, please visit www.takedaoncology.com .
About Takeda Pharmaceutical Co., Ltd.
Takeda Pharmaceutical Co., Ltd. (TSE: 4502/NYSE: TAK) is a value-oriented R&D-driven biopharmaceutical industry leader headquartered in Japan, committed to upholding our commitment to patients, employees and the planet, discovering and delivering changes Life's therapy. Takeda's research and development efforts focus on tumors, rare genes and blood diseases, neuroscience and gastroenterology (GI). We also make targeted R&D investments in plasma-derived therapies and vaccines. We are committed to the development of highly innovative drugs. By promoting the cutting-edge of new treatments, using our enhanced collaborative research and development engine and capabilities, we are creating a powerful and diversified product line that contributes to changing people’s lives. Our employees are committed to improving the quality of life of patients and working hand in hand with partners in the medical field in nearly 80 countries. For more information, please visit https://www.takeda.com .
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About Maverick Therapeutics
Maverick Therapeutics designs and delivers a groundbreaking immunotherapy platform by focusing on its profound comprehensive expertise in the field of drug development, and establishes its leading position in the competition for the application of T cell therapy to solid tumors. Maverick's highly innovative COBRA™ treatment platform is a highly mature, conditionally active bispecific T cell junction platform designed to cure solid tumors. With COBRA, T cell activation and resulting cell killing only occurs where it is needed—for example, in tumors. This unique design achieves the long-awaited triple advantage in the field of cancer treatment: high specificity, high titer and low toxicity. Maverick was founded in 2016 and is led by a team of well-known experts in the field of protein engineering and T cell therapy research and development. Prior to the acquisition, Maverick was funded by Takeda, MPM BioVentures 2014 and MPM Capital’s UBS Cancer Impact Fund. For more information, please visit www.mavericktx.com .
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