Takeda Pharmaceutical agreed to pay as much as $6 billion (¥813 billion) for an experimental immune therapy from Nimbus Therapeutics — part of the Japanese drugmaker’s hunt for promising new products.
Takeda will pay $4 billion upfront for the drug, which is called NDI-034858 and will be renamed TAK-279, the companies said Tuesday in a statement. Cambridge, Massachusetts-based Nimbus is also eligible for two additional milestone payments of $1 billion each if the drug reaches annual net sales of $4 billion and $5 billion, respectively.
Investors are looking for growth from Takeda since its $62 billion takeover of Shire five years ago. Chief Executive Officer Christophe Weber said the drug offers an opportunity to enhance its strategy beyond Entyvio: The ulcerative colitis treatment that generated about 15% of the company’s revenue for the year that ended in March.
The Nimbus drug inhibits an immune-related protein called tyrosine kinase and recently yielded positive results in mid-stage studies of moderate-to-severe plaque psoriasis. It’s expected to enter final-stage studies next year, according to the statement.
Evercore Group is acting as Takeda’s financial adviser for the deal.