DURHAM, N.C., March 28, 2019 /PRNewswire/ -- StrideBio, Inc, a leading developer of novel adeno-associated viral (AAV)
"We are very excited to partner with Takeda given their expertise and commitment to developing treatments for patients with neurological diseases," stated Sapan Shah, Ph.D. Chief Executive Officer, StrideBio, Inc. "We look forward to working together to bring transformative and novel AAV-based gene therapies to patients, while continuing to validate and expand StrideBio's platform, manufacturing capabilities and pipeline."
"StrideBio's expertise and unique gene therapy technology holds great potential for significantly advancing the field of neurological disease research," said Emiliangelo Ratti, Head, Neuroscience Therapeutic Area Unit at Takeda. "Our collaboration is a natural extension of Takeda's neuroscience research and development strategy, including modality diversification, identifying targets with a high degree of association with disease, and a focus on developing innovative medicines for neurologic diseases that have a high unmet medical need."
Terms of Agreement
Under the terms of the agreement, StrideBio will be responsible for AAV capsid development, non-clinical development and manufacturing of preclinical candidates to be selected for advancement into clinical studies. Takeda will be responsible for clinical development and commercialization of selected candidates arising from the collaboration. A total of three targets are specified under the collaboration, with the initial target being Friedreich's Ataxia. StrideBio is eligible to receive approximately $30 million in upfront and near term pre-clinical milestones, as well as an additional $680 million in future development and commercial milestones from Takeda. StrideBio will also receive royalties on worldwide net sales of any commercial products developed through the collaboration. Further financial terms were not disclosed.
In 2018, Takeda Ventures, Inc. (TVI), the corporate venture capital group of Takeda, participated in an oversubscribed Series A Financing round led by Hatteras Venture Partners, and including UCB Ventures and Alexandria Real Estate Equities. The purpose of the financing is to support StrideBio in the development of their novel AAV technology.
About StrideBio, Inc.
StrideBio, Inc is a gene therapy company focused on creating and developing novel adeno-associated viral (AAV) therapies for rare diseases. Our STRucture Inspired DEsign approach holds the potential to generate unique AAV capsids with improved characteristics including potency, tissue tropism, and ability to evade pre-existing antibodies. This powerful new approach has broad application, enabling gene addition, gene silencing and gene editing modalities for a wide range of diseases, including rare genetic diseases. StrideBio is headquartered in Durham, NC. Current investors include Hatteras Venture Partners, Takeda Ventures, UCB Ventures and Alexandria Real Estate Equities, Inc. For more information, please visit www.stridebio.com.
STRIDEBIO CONTACT: Richard E. T. Smith, PhD 609-865-0693 firstname.lastname@example.org
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SOURCE StrideBio, Inc
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