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Takeda Pharmaceutical Co Ltd (NYSE: TAK) has exercised the option to acquire Maverick Therapeutics, following an agreement signed in 2017, in which Takeda received an equity stake and an exclusive right to purchase Maverick after five years.
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- Under the agreement, Takeda will obtain Maverick's T-cell engager COBRA platform and development portfolio, including Maverick's lead candidate TAK-186 (MVC-101) and TAK-280 (MVC-280).
- TAK-186 is currently in a Phase 1/2 study for the treatment of EGFR-expressing solid tumors.
- TAK-280 (MVC-280) will enter human trials in the second half of Takeda's fiscal year 2021 in B7H3-expressing solid tumors.
- Takeda exercised its option for a pre-negotiated upfront payment as well as milestone payment of up to $525 million, 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.
- Price Action: TAK shares are trading 0.6% higher at $18.1 in premarket on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.