Takeda hits another target to bring Crescendo fresh windfall
Crescendo Biologics, the Cambridge developer of targeted T-cell engagers, has clinched more millions in its increasingly successful collaboration with Japanese giant Takeda Pharmaceutical Company Ltd.
The partners are refusing to release figures but the milestones Crescendo is helping Takeda reach are highly lucrative and medically significant.
Crescendo’s global, strategic, multi-target collaboration and licence agreement with Takeda was announced in October 2016. Under the deal, Crescendo’s proprietary transgenic platform and engineering expertise is used to identify and configure Humabody®-based therapeutics against certain targets chosen by Takeda.
The latest milestone marks the successful delivery of another highly diverse panel of functional Humabody® leads against the second of Takeda’s selected targets. The achievement of an equivalent milestone related to the first of Takeda’s selected targets was announced in April.
Dr Peter Pack, CEO of Crescendo, said: “Crescendo has once again demonstrated its ability to deliver, ahead of schedule, a diverse selection of functional Humabody® molecules meeting the stringent specifications outlined in the collaboration agreement.
“Our highly productive relationship draws together Takeda’s deep oncology experience with Crescendo’s expertise in developing optimally configured Humabodies.
“Together we are fast progressing towards our goal of developing next generation, highly modular and multi-functional biologics against cancer. This is another important step forward for Crescendo and further validates the power of our innovative technology.”
• PHOTOGRAPH SHOWS: Peter Pack