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GEN News Highlights : Nov 2, 2006

Agreement Potentially Worth $100M Inked Between Takeda and Xoma

Firms will collaborate to discover and develop therapeutic Mabs.

Xoma and Takeda Pharmaceutical entered into an agreement for therapeutic Mab discovery and development. Using its extensive collection of phage display libraries and antibody optimization technologies, Xoma will discover therapeutic antibodies against multiple targets selected by Takeda.

The agreement calls for Takeda to make upfront and milestone payments to Xoma, fund the company’s R&D activities, including manufacturing of the antibodies for preclinical and early clinical supplies, and pay royalties on sales of products resulting from the collaboration. Payments to Xoma could exceed $100 million before royalties in the course of the collaboration.

Xoma will also undertake preclinical studies to support regulatory filings, cell line and process development, and production of antibodies for initial clinical trials. Takeda will be then responsible for clinical trials and commercialization of drugs after IND submission and is granted the right to manufacture once the product enters into Phase II trials.