Billionaire Platt-Backed Engitix Inks Takeda Partnership
- Firms to develop treatments for IBS in pact worth $300 million
- Takeda to develop, commercialize certain clinical candidates
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U.K.-based biotech firm Engitix Ltd. and Japanese drugmaker Takeda Pharmaceutical Co. have agreed to extend their existing partnership in a deal could be valued at as much as $300 million.
Engitix, whose backers include billionaire hedge fund manager Michael Platt, will work with Takeda to jointly develop novel therapeutics for fibrostenotic inflammatory bowel disease, or IBD, including Crohn’s disease and ulcerative colitis, according to a statement seen by Bloomberg News.