Xoma Ltd. and Takeda Pharmaceutical Co. said they have entered into a therapeutic monoclonal antibody discovery and development agreement worth potentially more than $100 million to Xoma before royalties.
The collaboration is intended to capitalize on Berkeley-based Xoma's (Nasdaq:XOMA - News) expertise in monoclonal antibodies.
Under the agreement announced Thursday, Takeda will make up-front and milestone payments to Xoma, fund Xoma's R&D activities including manufacturing of the antibodies for preclinical and early clinical supplies, and pay royalties to Xoma on sales of products resulting from the collaboration.
Xoma will discover therapeutic antibodies against multiple targets selected by Takeda and perform preclinical studies to support regulatory filings, cell line and process development, and production of antibodies for initial clinical trials. Takeda will be responsible for clinical trials and commercialization of drugs and is granted the right to manufacture once the product enters into mid-stage clinical trials.
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