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Takeda nabs ex-U.S. rights to investigational stem cell treatment for Crohn's-related fistulas

  • Takeda Pharmaceutical Company (OTCPK:TKPHF)(TKPYY) inks an agreement with Belgian biotech TiGenix NV for the exclusive ex-U.S. rights to develop and commercialize the latter's Orphan Drug-tagged Cx601 for the treatment of complex perianal fistulas in patients with Crohn's disease.
  • Under the terms of the deal, TiGenix will receive an upfront cash payment of €25M, milestones up to €355M and double-digit royalties on net sales. In addition, Takeda will make a €10M equity investment in TiGenix sometime in the next 12 months.
  • The first milestone is €15M triggered by securing a Marketing Authorization for Cx601 in the European Economic Area. TiGenix retains the rights to Cx601 for other indications.
  • Phase 3-stage Cx601 is a suspension of allogeneic adipose-derived stem cells that are injected directly into the lesions.
  • A Phase 3 study should commence in H2 in the U.S. as well.

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