Tanabe in $115 million R&D deal with Anaphore for novel protein drugs for autoimmune disorders

Tanabe Research Laboratories (TRL), a US unit of Japan’s Mitsubishi Tanabe (4508: JP), has entered into a partnership with US biotech irm Anaphore for the research and preclinical development of novel protein therapies for autoimmune diseases based on Anaphore's proprietary Atrimer technology.

Under the terms of the agreement, Mitsubishi Tanabe Pharma will make an upfront payment of $5 million for an initial target and contribute research funds. In addition, Anaphore will receive milestones totaling $110 million and tiered royalties on sales, provided the nominated molecule achieves full commercialization. Financial terms are substantially similar in the event TRL nominates two additional targets.

TRL and Anaphore will generate novel trivalent proteins called Atrimers that can be programmed to bind to and activate or inhibit targets of interest. The partnership will focus on strategies to develop biologic therapies for autoimmune disorders such as, rheumatoid arthritis, inflammatory bowel disease, and psoriasis. Mitsubishi Tanabe Pharma will be responsible for late stage development and worldwide commercialization following the selection of lead candidates. TRL and Anaphore will commence the R&D alliance immediately.