- Schrödinger (NASDAQ:SDGR) said it received $111.3M cash distribution from Nimbus Therapeutics, in connection with Takeda Pharmaceutical's (NYSE:TAK) acquisition of Nimbus Lakshmi.
- In December 2022, Takeda agreed to pay $4B upfront to acquire Nimbus Lakshmi, a unit of Nimbus Therapeutics and its potential psoriasis therapy NDI-034858.
- Schrödinger noted that the oral TYK2 inhibitor NDI-034858 is being evaluated to treat multiple autoimmune diseases after positive phase 2b results in psoriasis.
- Schrödinger expects to report the first cash distribution as a gain on equity investments in its Q1 2023 statements.
- The company expects to receive a second distribution of ~$36M, also related to Takeda's upfront payment to Nimbus, in Q2 2023, for a total cash distribution of ~$147.3M.
- "We began our journey with Nimbus at its founding in 2009 and we are delighted to see NDI-034858 partnered with Takeda and advancing toward pivotal trials," said Schrödinger CEO Ramy Farid.
- As of Dec. 31, 2022, Schrödinger's equity stake in Nimbus was 3.8% on a fully diluted basis.
- SDGR -1.83% to $22.50 premarket Feb. 14
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