9. January 2012 11:31
Takeda America Holdings, the US subsidiary of Japanese pharma giant Takeda, is to acquire biotechnology company Intellikine for $190m upfront and up to $120m in clinical development milestone payments.
US company Intellikine specialises in developing small-molecule kinase inhibitors for the treatment of cancer, and the deal will add two new compounds to Takeda’s oncology pipeline.
Since its formation in 2007, Intellikine has raised $41m from investors including Novartis Venture Funds and Biogen Idec.
Intellikine’s drug candidate INK128, an mTORC1/2 inhibitor, is expected to enter Phase II studies in 2012; while its INK1117, a PI3Ka inhibitor, entered clinical testing in September 2011.
Both drugs will be developed by Millennium, Takeda's business unit for global oncology strategy and development.
“INK128 and INK1117 are potential best-in-class inhibitors of critical pathways driving cancer cell growth,” said Deborah Dunsire, CEO of Millennium. “As single agents or in different combinations with novel molecules within our robust pipeline, we anticipate that these assets will be able to deliver transforming therapies to cancer patients.”
Troy Wilson, CEO of Intellikine, commented: “Intellikine has advanced three programs against the PI3K/mTOR pathway into human clinical testing in just four years. We are pleased that Takeda recognises the potential of our clinical-stage programs as well as our strong pipeline and discovery engine.”
The transaction is expected to be finalised in January 2012.