“Our goal is to successfully treat patients with severe inflammatory conditions and this is now possible through our alliance with Takeda,” said Denice Spero, president and chief business officer of ProThera.
ProThera Biologics and Takeda Pharmaceutical announced on Friday that they had entered a global licensing agreement to develop a novel plasma-derived Inter-alpha Inhibitor Proteins (IAIP) therapy. The goal is to use the IAIP therapy for acute inflammatory conditions that do not have effective treatments available.
IAIP are naturally occurring proteins that circulate in the blood. ProThera’s research has shown that these proteins help control inflammation. They exert their anti-inflammatory effects through several different mechanisms, but in patients with acute illnesses, the levels of these proteins decline.
“Our goal is to successfully treat patients with severe inflammatory conditions and this is now possible through our alliance with Takeda,” said Denice Spero, president and chief business officer of ProThera. “Takeda’s R&D expertise is well aligned with the potential uses of our Inter-alpha Inhibitor technology. We are delighted that Takeda and ProThera are collaborating and that Takeda shares our enthusiasm for tackling unmet medical needs.”
Together, ProThera and Takeda intend to work on IND-enabling activities, and Takeda’s Plasma Derived Therapies R&D organization will lead the development process. All development and commercialization activities will be funded by Takeda.
“ProThera is proud to join forces with a world-class company like Takeda to tackle a number of challenging diseases. Takeda is one of the leaders in plasma-derived therapies, and we are confident that this partnership may advance this promising therapeutic into the clinic,” said Dr. Yow-Pin Lim, co-founder and CEO of ProThera. “It has been a long journey to study these extraordinary proteins, and we are excited about the possibilities of achieving positive clinical outcomes.”
On Friday, Takeda also announced that it had entered a $670 million agreement with Orifarm to divest a portfolio of select non-core over-the-counter and prescription pharmaceutical products sold in parts of Europe. The portfolio includes a wide array of drugs that are sold predominately in Denmark, Norway, Belgium, Poland, Finland, Sweden, the Baltics and Austria. It generated net sales of about $230 million in the 2018 fiscal year.
“These divestments will enable us to further prioritize and reinforce efforts in our core business areas” said Giles Platford, President, Europe & Canada Business Unit, Takeda. “Throughout the robust sale process we conducted for these assets, we focused on finding the right partner to maximize the value of these trusted products and maintain continuity of supply for the patients and customers who depend on them. We are confident that Orifarm is the right partner for these regions.”
Over the past year, Takeda has announced a slew of divestments in an attempt to achieve the company’s goal of divesting approximately $10 billion.
“This transaction represents the continued execution of our strategy to simplify our portfolio and accelerate deleveraging. We remain focused on investing in our key business areas as we continue strengthening our position as a R&D-driven global biopharmaceutical leader and deliver enhanced value for patients and Takeda shareholders,” said Costa Saroukos, chief financial officer of Takeda.
In March, Takeda announced the sale of non-core products in Latin America to Hypera Pharma in a deal worth about $825 million. It also sold non-core assets that spanned the Russia-CIS region to STADA for approximately $660 million last month.
With its proceeds, Takeda will continue reducing its debt toward a target of 2x net debt/adjusted EBITDA within March 2022 – March 2024.
