Under novel collaboration approach, Schrödinger will autonomously lead discovery efforts; Takeda provides complementary structural biology support and has option to lead development and commercialization of licensed programs
Osaka, Japan & New York, NY, July 20, 2017 －Takeda Pharmaceutical Company Limited (TSE: 4502) and Schrödinger Inc., a privately-held company dedicated to revolutionizing drug discovery through advanced computational methods, today announced the formation of a multi-target research collaboration directed to diseases that align with Takeda’s core therapeutic areas of interest. The unique collaboration will combine Schrödinger’s in silico platform-driven drug discovery capabilities with Takeda’s deep therapeutic area knowledge and expertise in structural biology. With a focus on simplicity, speed and agility, Schrödinger will lead the multi-target discovery effort with Takeda providing protein crystal structures to aid Schrödinger in using its computational platform to guide the design of new chemical entities. Schrödinger will be responsible for its discovery costs.
“Schrödinger’s agility, drug discovery track record and revolutionary computational chemistry platform are key strengths that attracted Takeda to Schrödinger as a strategic partner,” said Stephen Hitchcock Ph.D., Head of Research for Takeda. “Takeda’s business model is focused on creating mutually beneficial partnerships that capitalize on the complementary capabilities of both parties in order to accelerate the discovery of new therapies for patients. In this case, Schrödinger is taking the lead role in discovery, with Takeda playing a supporting role, leveraging its in-house structural biology team and therapeutic area expertise.”
Under the terms of the collaboration, Takeda will have the option to exclusively license the programs from Schrödinger later in discovery at established economic terms, including pre-clinical, clinical, and commercial milestones of up to $170M per program, as well as royalties on future sales. Additional financial details are not being disclosed.
“We are very much looking forward to partnering with Takeda and marshalling its biology and development expertise with our world class computational chemistry and drug discovery capabilities to advance these programs,” said Ramy Farid, Ph.D., Schrödinger’s president and chief executive officer. “This alliance allows us the opportunity to fully exploit the power of our platform to accelerate the delivery of novel therapeutics to patients.”
About Takeda Pharmaceutical Company
Takeda Pharmaceutical Company Limited is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and central nervous system therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology and gastroenterology, as well as Takeda’s presence in Emerging Markets, are currently fueling the growth of Takeda. Around 30,000 Takeda employees are committed to improving quality of life for patients, working with Takeda’s partners in health care in more than 70 countries. For more information, visit www.takeda.com/news.
Schrödinger is a leading provider of advanced molecular simulations and enterprise software solutions and services to accelerate and increase the efficiency of drug discovery for its clients, which include all major pharmaceutical and biotechnology companies worldwide, as well as leading materials science researchers. Schrödinger also establishes deep partnerships and collaborations with companies in such fields as biotechnology, pharmaceuticals, chemicals, and electronics, and was a cofounder of leading biotech companies including Nimbus Therapeutics, Morphic Therapeutic, and Relay Therapeutics. Schrödinger’s investors include David E. Shaw and Bill Gates. Through significant long-term investments in basic research, Schrödinger has made scientific breakthroughs across many areas of drug discovery and materials science. Hundreds of peer-reviewed scientific publications by Schrödinger scientists are frequently among the most heavily cited in their fields. Founded in 1990, Schrödinger has over 300 employees and operations in the United States, Europe, Japan, and India, as well as business partners in China and Korea. For more information, please visit www.schrodinger.com.
Takeda’s Forward-Looking Statements
This press release contains “forward-looking statements.” Forward-looking statements include all statements other than statements of historical fact, including plans, strategies and expectations for the future, statements regarding the expected timing of filings and approvals relating to the transaction, the expected timing of the completion of the transaction, the ability to complete the transaction or to satisfy the various closing conditions, future revenues and profitability from or growth or any assumptions underlying any of the foregoing. Statements made in the future tense, and words such as “anticipate,” “expect,” “project,” “continue,” “believe,” “plan,” “estimate,” “pro forma,” “intend,” “potential,” “target,” “forecast,” “guidance,” “outlook,” “seek,” “assume,” “will,” “may,” “should,” and similar expressions are intended to qualify as forward-looking statements. Forward-looking statements are based on estimates and assumptions made by management that are believed to be reasonable, though they are inherently uncertain and difficult to predict. Investors and security holders are cautioned not to place undue reliance on these forward-looking statements.
Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Some of these risks and uncertainties include, but are not limited to: required regulatory approvals for the transaction may not be obtained in a timely manner, if at all; the conditions to closing of the transaction may not be satisfied; competitive pressures and developments; applicable laws and regulations; the success or failure of product development programs; actions of regulatory authorities and the timing thereof; changes in exchange rates; and claims or concerns regarding the safety or efficacy of marketed products or product candidates in development.
The forward-looking statements contained in this press release speak only as of the date of this press release, and neither Schrödinger nor Takeda undertake any obligation to revise or update any forward-looking statements to reflect new information, future events or circumstances after the date of the forward-looking statement. If one or more of these statements is updated or corrected, investors and others should not conclude that additional updates or corrections will be made.
Tsuyoshi Tada – Japan
Kelly Schlemm – USA
Stern Investor Relations, Inc.
Shi-Yi Liu, Ph.D.
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