Takeda in-licenses schizophrenia drug candidates from Intra-Cellular for up to $750 million

In a second licensing deal this year, Japan’s largest drugmaker Takeda Pharmaceutical (TSE: 4502) has entered into an exclusive collaboration with USA-based Intra-Cellular Therapies (ITI) to develop and commercialize selective phosphodiesterase type 1 (PDE1) inhibitors, discovered by the latter and in preclinical testing, for the treatment of cognitive impairment associated with schizophrenia. This agreement is targeted worldwide, but ITI has retained the option to co-promote with Takeda in the USA.

Under the terms of the deal, ITI will get an upfront cash sum and will be eligible to receive payments of around $500 million on certain development milestones and up to an additional $250 million on the achievement of certain sales-based milestones, along with tiered royalty payments based on net sales by Takeda. Takeda will be solely responsible for development, manufacturing and commercialization of PDE1 inhibitors.

“Takeda’s strength in CNS drug development and commercialization complements ITI’s innovative approach to discovery, research and development, “ said Sharon Mates, chairman and chief executive of Intra-Cellular,” adding: “This program represents a unique approach to the treatment of cognitive impairment associated with schizophrenia (CIAS) and other disorders.”