Takeda Pharmaceutical has signed a strategic agreement with PvP Biologics that gives the corporate an option to acquire the University of Washington spinout.
PvP Biologics, a spinout of University of Washington working on a treatment for coeliac disease, signed a $35m strategic partnership agreement with pharmaceutical firm Takeda Pharmaceutical yesterday.
The non-dilutive cash injection will go towards R&D through phase 1 proof-of-principle studies for a drug candidate called Kumamax, an enzyme that breaks down immune-reactive parts of gluten to avoid pain and damage to the small intestine caused by accidental consumption of gluten.
The deal will give Takeda an option to acquire PvP once the pre-defined development plan is successfully completed. Takeda would pay an undisclosed fee as well as development and regulatory milestones at that time.
PvP Biologics is a spinout of University of Washington’s Institute for Protein Design.
Asit Parikh, head of the gastroenterology therapeutic area for Takeda, said: “This agreement with PvP Biologics reinforces Takeda’s commitment to developing therapeutics targeting coeliac disease.
“Kumamax could address a significant unmet need for celiac patients who try, but are unable to completely avoid gluten exposure in their diets, and thus continue to experience debilitating symptoms.
“We are pleased to be partnering with PvP Biologics, a company whose management team has a proven track record of successfully bringing assets that target chronic inflammatory GI diseases through development.”
