Take­da ax­es clin­i­cal-stage pro­gram in $1B+ Turn­stone Bi­o­log­ics col­lab­o­ra­tion

Take­da has end­ed its work with Turn­stone Bi­o­log­ics on a sol­id tu­mor as­set that was in a Phase I/IIa study, up­end­ing a 2019 deal that had $900 mil­lion in biobucks on the line.

The Japan­ese Big Phar­ma dis­closed it was drop­ping TAK-605 and re­turn­ing the ar­mored on­colyt­ic virus back to the New York biotech for “strate­gic rea­sons,” ac­cord­ing to a quar­ter­ly up­date Thurs­day morn­ing. Turn­stone re­gains the glob­al rights to the as­set, al­so named RI­VAL-01.

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