Neu­rode­gen­er­a­tion star De­nali nabs a cash-rich, $1B-plus Alzheimer’s part­ner­ship with Take­da

Take­da is on a roll this morn­ing.

Right along­side its $630 mil­lion ac­qui­si­tion deal for TiGenix, Take­da is an­nounc­ing that it has set out to build up its port­fo­lio of ex­per­i­men­tal Alzheimer’s drugs with a high-pro­file team at De­nali Ther­a­peu­tics that’s work­ing on some new ap­proach­es to neu­rode­gen­er­a­tion.

De­nali, fresh off its big $280 mil­lion biotech IPO $DNLI from last De­cem­ber, will put its tech to work in an un­usu­al­ly rich pre­clin­i­cal deal for three pro­grams that Take­da can op­tion for shared clin­i­cal de­vel­op­ment and mar­ket­ing rights. And Take­da will pay $155 mil­lion in cash — part up­front and part eq­ui­ty buy — to get De­nali start­ed while com­mit­ting up to $85 mil­lion for near term pre­clin­i­cal mile­stones.

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