Takeda and TiGenix in licensing deal ex-USA for Crohn's disease drug Cx601
Japan's largest drugmaker Takeda Pharmaceutical (TYO: 4502) and Belgian biopharma firm TiGenix (Euronext Brussels: TIG) have entered into a licensing, development and commercialization agreement for Crohn’s disease treatment Cx601 outside the USA.
TiGenix will receive an upfront cash payment of 25 million euros ($27.86 million) and will be eligible to receive additional regulatory and sales milestone payments for up to a potential total of 355 million euros and double-digit royalties on net sales by Takeda.
The first anticipated milestone payment is 15 million euros upon obtaining the Marketing Authorization of Cx601 in Europe. Takeda will also make an equity investment of €10 million in the share capital of TiGenix within the next 12 months.
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