Business Wire

Takeda to Acquire Maverick Therapeutics to Advance T-Cell Engager Therapies for Solid Tumors and Expand Novel Immuno-Oncology Portfolio

Share

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the exercise of its option to acquire Maverick Therapeutics, Inc. a private biopharmaceutical company pioneering conditionally active bispecific T-cell targeted immunotherapies. Under the agreement, Takeda will obtain Maverick’s T-cell engager COBRA™ platform and a broad development portfolio, including Maverick’s lead development candidate TAK-186 (MVC-101) currently in a Phase 1/2 study for the treatment of EGFR-expressing solid tumors, and TAK-280 (MVC-280), which is anticipated to enter the clinic in the second half of Takeda’s fiscal year 2021 for the treatment of patients with B7H3-expressing solid tumors. After closing of the transaction, Maverick employees, including its team of talented scientists, will join Takeda’s Research & Development organization.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210309005114/en/

“Collaboration is paramount to our R&D strategy and our pursuit of novel approaches to treat cancer,” said Chris Arendt, Ph.D., head of the Oncology Therapeutic Area Unit of Takeda. “By supporting pioneers like Maverick working in emerging areas of science, we can share expertise, resources and risk to bring transformational new therapies to patients faster. Maverick’s cutting-edge COBRA platform is an exciting addition to our oncology portfolio that provides a novel conditional bioengineering approach to advance redirected immunotherapies against solid tumors.”

Maverick’s COBRA platform is designed to safely target a broad range of solid tumors with highly specific and potent activity while limiting toxicities in normal tissues. Unlike standard T-cell engaging immunotherapies that are systemically active when administered, COBRA-engineered, protein-based therapies are engineered to exploit the tumor microenvironment, triggering T-cell-mediated killing only at the site of the tumor while sparing damage to patients’ healthy tissues. The COBRA platform complements Takeda’s approach to redirecting immune cells to target cancer with the potential to unlock efficacy in solid tumors.

The acquisition follows a multi-year collaboration between Takeda and Maverick signed in 2017 to develop conditionally active T-cell engager therapies, in which Takeda received an equity stake and an exclusive right to purchase Maverick after five years. Based on the success of the lead programs and the promise of the COBRA platform, Takeda exercised its option to acquire Maverick for a pre-negotiated upfront payment as well as potential development and regulatory milestones totaling up to $525 million, subject to certain adjustments, including for Takeda’s current equity stake and Maverick debt. The deal is expected to be finalized in Q1 of Takeda’s fiscal year 2021. Closing of the transaction is contingent on completion of review under antitrust laws, including the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 in the U.S.

“Takeda’s exercise of their purchase option is a tribute to the Maverick team’s singular focus on improving outcomes for patients with solid tumor cancers,” said James Scibetta, CEO of Maverick Therapeutics. “Through the acquisition, patients will benefit from the expansion of resources and experience Takeda brings to accelerate development of our COBRA-derived therapies. Takeda has been an excellent partner since Maverick’s inception, venerating our independence through a period marked by rapid innovation, providing actionable consultation, and providing direct cell line development and manufacturing support through the COVID-19 pandemic to keep us on our aggressive schedule.”

Takeda’s Commitment to Oncology

At Takeda Oncology, we aspire to cure cancer, with inspiration from patients and innovation from everywhere. We ensure a tight connection from research to development to commercialization to rapidly meet the needs of the cancer community, optimizing our ability to bring transformative medicines to patients. Our demonstrated leadership in the treatment of hematologic cancers and solid tumors combined with cutting-edge science through multiple platforms, partnerships and therapeutic approaches, enable us to bring novel medicines to patients worldwide. For more information, visit www.takedaoncology.com.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE: TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetic and Hematology, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in healthcare in approximately 80 countries. For more information, visit https://www.takeda.com.

Important Notice

For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Takeda Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/reports/sec-filings/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

About Maverick Therapeutics

Maverick Therapeutics is establishing itself as the leader in the race to apply T cell therapy to solid tumor cancers by focusing deep integrated expertise in drug development to design and deliver a pioneering immunotherapy platform. Maverick’s highly innovative COBRA™ therapeutic platform is the most mature, conditionally active bispecific T cell engaging platform designed to eliminate solid tumors. With COBRA, T cell activation and resulting cell killing only take place where it is needed – in tumors. This unique design delivers the long sought trifecta in cancer care; high specificity, high potency and reduced toxicity. Founded in 2016, Maverick is led by a team of leading experts in protein engineering and T cell therapeutic research and development. Prior to acquisition, Maverick was funded by Takeda, MPM BioVentures 2014 and MPM Capital’s UBS Oncology Impact Fund. For further information, please visit www.mavericktx.com.

Contact information

Takeda Media Contacts:
Japanese Media
Kazumi Kobayashi
kazumi.kobayashi@takeda.com
+81 (0) 3-3278-2095

Media outside Japan
Chris Stamm
chris.stamm@takeda.com
+1 (617) 347-7726

Maverick Contacts:
Investor Inquiries
Kristen Hawley
khawley@mavericktx.com
+1 (650) 443-7549

Media Inquiries
Peg Rusconi
prusconi@vergescientific.com
+1 (617) 910-6217

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Verimatrix To Participate in SportsPro Live Virtual Panel: How To Transform Physical Spaces into Digital Ecosystems22.4.2021 17:45:00 CEST | Press release

Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that Lu Bolden, Chief Revenue Officer, is slated to participate in a SportsPro Live virtual panel discussion from 9:10 to 9:55 a.m. Central Time on Thursday, April 29. The event, which unites sports and technology professionals from across the globe, aims to prepare the industries for the future of sport. Bolden’s panel is slated to take place in the South Stand and discuss how technology can connect the in-venue experience to create more revenue opportunities. The group, moderated by Mike Bohndiek, CEO of PTI Digital Group, will also discuss what strategies and technologies can best deliver the new digital experiences. Other speakers on the panel include: Michael Cole, Chief Technology Officer, PGA European Tour and Ryder Cup Europe Adam Heintz, Senior Vice President, Business Intelligence, Monumental Sports & Entertainment “T

Rajeev Bhalla Named Director of Board at Next Level Aviation22.4.2021 17:39:00 CEST | Press release

Seasoned senior finance executive Rajeev Bhalla has been named a Director of the Board at Next Level Aviation, a leader in the aerospace used serviceable materials (USM) market. He brings wide-ranging financial, operational, and strategic expertise to the company as it plans substantial growth in the coming years, both organically and through acquisition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005834/en/ Rajeev Bhalla has been named Director of the Board of Next Level Aviation. He will help guide the company’s planned growth in the coming years, both organically and through acquisition. (Photo: Business Wire) Bhalla’s background includes demonstrated discipline and expertise in finance, governance, and team development. This comes through current work as a Cerberus Operating Partner, board of director roles as well as experience in a number of successful companies. Notably, those include: Circor International,

Medical Aesthetic Products’ Manufacturer Croma-Pharma Launches “Croma is More” E-Learning Series for Health Care Professionals22.4.2021 17:00:00 CEST | Press release

Croma-Pharma GmbH (Croma) always strives to support physicians in their work in the best possible way. For this reason, the company has developed an interactive e-learning platform with continuing education offerings for physicians working in the field of minimally invasive aesthetic. In this way, Croma aims to help health care professionals achieve sustainable growth and success in their medical clinics/practices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005727/en/ Social Media Training for Health Care Professionals Copyright: Croma-Pharma GmbH (Graphic: Business Wire) Medical professionals can choose from a broad variety of different formats: Social Media & Online Marketing Facial Anatomy Workshops Aesthetic Startup Academy Aesthetic Excellence A variety of topics is presented by Industry experts. All the content comes with lifetime access hence the health care professionals can learn on their own schedule and

PerkinElmer Supports PROXIDRUGS Consortium Aimed at Advancing Targeted Protein Degradation/PROTAC Drugs22.4.2021 16:44:00 CEST | Press release

PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today announced that it is serving as a provider and co-developer of assays, instrument solutions and expertise for the PROXIDRUGS Consortium which is zeroing in on research for proximity drugs or PROTACs (PROteolysis Targeting Chimeras). PROTACs are a new class of drugs that take advantage of the body’s own cell protein recycling system to fight disease by tapping into the 80% of disease-relevant proteins that are currently untargeted by today’s available therapeutics. Led by Goethe University in Frankfurt, Germany, the Consortium includes researchers from the Technical University of Darmstadt, the Fraunhofer Institute for Translational Medicine and Pharmacology, and global pharmaceutical companies based in Frankfurt’s Rhine-Main region. The research project, starting October 2021, aims to streamline novel drug target validation by putting disease-relevant proteins in close proximity with key enzymes (su

Xsolla Acquires Slemma, an Advanced Data Analytics and Visualization Company22.4.2021 16:00:00 CEST | Press release

Xsolla, the video game commerce company powered by its Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, has announced the acquisition of Slemma, an advanced data analytics and visualization reporting platform. The web-based tools allow users to create simple, easy-to-use and dynamic data reports with customizable dashboards. Xsolla will integrate Slemma’s product suite into the Publisher Account to provide clients with next-level data visualizations, even connecting to third party tools and services including Amazon RDS, Microsoft Azure, Google Analytics, Facebook, Twitter, Zendesk, Salesforce and many more. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005443/en/ Xsolla acquires Slemma, a robust data analytics and visualization platform. (Graphic: Business Wire) “Everything we do at Xsolla focuses on providing the best experience, tools

Serie A Club Parma Calcio Signs Deal with Stats Perform for Access to the Most Sophisticated Player Identification Tool—Edge Recruitment22.4.2021 15:49:00 CEST | Press release

Today, Stats Perform, the sports tech leader in data and AI, announced a deal with Italian football club Parma Calcio, recently purchased by Iowa-based Krause Group, which will see the Serie A side become the first club worldwide to access the innovative Edge Recruitment platform, the industry’s most sophisticated player identification tool. Since the emergence of technical scouting during the mid-2000s, recruitment analysts have been using data to assess prospects through the lens of traditional on-field position labels. Launched earlier this season, Edge Recruitment introduces a new method of assessing players, applying multiple AI-powered models to profile players based on their role in a team. At the heart of Edge Recruitment is Role Discovery, a model which detects 18 different types of role all over the pitch based on a player’s spatial tendencies, contributions to different phases of play, possession involvement, distribution and shooting tendencies. Through applying Role Discov

Milliken & Company Publishes Third Annual Corporate Sustainability Report22.4.2021 15:00:00 CEST | Press release

Global manufacturer Milliken & Company today released its third annual corporate sustainability report, entitled Together for Tomorrow. This report, which analyzes Milliken’s performance through the lens of its holistic sustainability efforts, highlights its progress towards the 2025 sustainability goals the company set in 2018. Covering people, product and planet, this report creates increased accountability while inviting new conversations and collaborations as the company works to create a positive impact on the world that will last generations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005332/en/ Together for Tomorrow: Milliken's Third Annual Corporate Sustainability Report (Photo: Business Wire) “Together, we met the critical moments from 2020,” shares Halsey Cook, president and CEO for Milliken. “We pivoted production lines, launched new innovations, and rallied our team to improve our sustainability metrics