Takeda, Crescendo Biologics enter collaboration, license agreement
Crescendo Biologics and Takeda Pharmaceutical announced a global, strategic, multi-target collaboration and license agreement for the discovery, development and commercialization of Humabody -based therapeutics for cancer indications with a high unmet medical need. Crescendo will use its proprietary transgenic platform and engineering expertise to discover and optimally configure Humabody candidates against multiple targets selected by Takeda. Under the terms of the agreement, Crescendo is eligible to receive up to $36M, in a combination of an upfront payment, investment, research funding and preclinical milestones. Takeda will have the right to develop and commercialize Humabody-based therapeutics resulting from the collaboration. Crescendo is also eligible to receive further clinical development, regulatory and sales-based milestone payments of up to $754M. In addition, Crescendo will be eligible to receive royalties on Humabody-based product sales by Takeda. Takeda signed agreements with Crescendo Biologics through its wholly-owned subsidiary, Millennium Pharmaceuticals, Inc.