Cut­ting back in the UK, Take­da spins out its top neu­ro­science team in­to a transat­lantic biotech

As Take­da con­tin­ues a glob­al R&D over­haul that in­cludes a wind down of UK op­er­a­tions, the Japan­ese phar­ma com­pa­ny is spin­ning out its neu­ro­science team in­to a new biotech called Cere­vance, which will have roots in the two Cam­bridges on both sides of the At­lantic.

Mark Carl­ton, the for­mer pres­i­dent and CSO of Take­da Cam­bridge (UK), and his 25-mem­ber team — com­plete with a well equipped lab — have be­come the core group be­hind Cere­vance. The new biotech is get­ting start­ed with $36 mil­lion in fund­ing, in­clud­ing $21.5 mil­lion from Take­da and Light­stone Ven­tures. And it will jump in­to ex­is­tence with a port­fo­lio of pre­clin­i­cal and clin­i­cal pro­grams un­der­way.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.