Published on December 20, 2013 at 1:13 AM
"Natrogen's strategy has been to demonstrate the drug's efficacy and safety in clinical trials and then identify a major pharmaceutical company that has the expertise, commitment and financial resources to complete the regulatory process and bring the drug to market. We found the perfect partner, Takeda, a major research-based company that has a global presence in the area of gastrointestinal disease," said Louis Wang, M.D., president and chief scientist.
Under the terms of the agreement, Natrogen grants Takeda an exclusive license for worldwide development of Natura-alpha in all indications, and an option to acquire Natrogen. In return, Natrogen will receive an up-front payment and potential future payments upon the exercise of Takeda's option to acquire Natrogen, including a payment upon closing of the option to acquire Natrogen and potential post-closing contingent payments upon achievement of certain regulatory and sales milestones. Takeda will fund and execute all additional clinical development.
Leerink Swann LLC served as the exclusive financial advisor and Covington & Burling LLP served as the legal advisor for the transaction for Natrogen. Ropes & Gray LLP served as legal advisor for the transaction for Takeda.
SOURCE Takeda Pharmaceutical Company Limited