Wave Life Sciences, Takeda Discontinue Research On Preclinical CNS Programs - Takeda Pharmaceutical (OTC:TKPHF), WAVE Life Sciences (NASDAQ:WVE), Takeda Pharmaceutical (NYSE:TAK)

Wave Life Sciences Ltd WVE has amended its ongoing collaboration with Takeda Pharmaceutical Company Limited TAK to discontinue discovery & research of preclinical programs for central nervous system (CNS) indications over a four-year research term.
Under terms of the amendment, Takeda will pay Wave $22.5 million for collaboration-related research and preclinical expenses.
The amendment allows Wave to advance or partner CNS programs, including those using ADAR editing, outside of the three specified targets, part of the ongoing late-stage collaboration between the companies.
Related: Wave Life Sciences Shows Durable ADAR-Editing In Multiple Tissues In Animal Studies.
The late-stage component of the original collaboration led by Wave remains unchanged, including Takeda's option to co-develop and co-commercialize CNS therapies for three targets.
Should Takeda opt-in on any of these programs, Wave would receive an opt-in payment and lead manufacturing and joint clinical co-development activities.
Takeda would lead joint co-commercial activities in the U.S. and all commercial activities outside of the U.S.
The Companies would 50:50 share the global costs and potential profits, and Wave is eligible to receive development and commercial milestone payments.
Price Action: WVE shares closed 4.32% higher at $4.83 during after-hours trading on Monday.