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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