Today cell therapy specialist TiGenix has disclosed a new deal with the Japanese pharmaceutical giant Takeda. The agreement allows Takeda the rights to license, develop and sell TiGenix’ Cx601 globally, except for the US, where a phase III trial is still underway. Cx601 is a cell therapy for the treatment of complex perianal fistulas in Crohn’s disease patients, based on the patient’s own adipose stem cells. Cx601 passed its first phase III clinical trial back in September, and is now awaiting marketing authorization in Europe.
Takeda will pay 25 million upfront and TiGenix is eligible for additional milestone payments to up to 355 million plus royalties on Cx601 sales.
“TiGenix is pleased to partner with Takeda, a global pharmaceutical company with a strong track record and strong leadership position in gastroenterology. This agreement reduces the investment risks associated with building a pan-European marketing and selling infrastructure, and helps get this much-needed treatment option to patients and gives to Cx601 the best partner with the needed capabilities and resources to secure its commercial success” said Eduardo Bravo, CEO at TiGenix. "This agreement further provides TiGenix with the financial strength to move forward with the clinical development of Cx601 in the U.S., which represents approximately 50 percent of the world’s Crohn’s market."
Read more on TiGenix and its adipose stem cell therapy Cx601 here.