Japan's Takeda, SKorea's LG Life to collaborate on anti-obesity drugs |
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Fri, 30 Mar 2007 09:08
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TOKYO (XFN-ASIA) - Takeda Pharmaceutical Co Ltd and LIG Life Sciences of South Korea will cooperate in discovering, developing and commercializing anti-obesity drugs, Takeda said.The company said in a written statement that LG Life would have the task of discovering candidate drugs, including medicinal chemistry research and pharmacological evaluation, and that Takeda would take charge of conducting subsequent research, development and commercialization.Takeda said its payments to LG Life, including an up-front payments and clinical and regulatory milestone payments, could exceed 100 mln usd.Takeda said it would also pay yet-to-be-decided royalties on sales of products resulting from the collaboration.Takeda will have exclusive rights to commercialize any resulting product worldwide, with the exception of South Korea and Vietnam.Takeda said separately that it had now agreed to acquire the development and commercial rights to R-851 from 3M Co of the US for an undisclosed term. R-851, discovered by 3M, is a candidate drug for topical cervical high-risk human papillomavirus infection and cervical dysplasia.In March 2005, Takeda and 3M agreed to develop this product jointly and share sales worldwide. The new deal will allow Takeda to take all responsibility from now on, ranging from regulatory filings to sales.Takeda also announced an agreement with CanBas Co on collaboration on chemical compound CBP501, which was discovered by Canbas, which could turn out to be a treatment for cancer.Takeda did not disclose the financial terms of the deal.Under the agreement, Takeda will be granted the exclusive rights to develop, manufacture and market the product worldwide, with the exception of the US, where the companies will jointly conduct development and sales promotion.(1 usd = 118.03 yen)yasuhiko.seki@xfn.com
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