Takeda Pharmaceutical Co.’s wholly-owned subsidiary, Takeda America Holdings, has entered into a definitive agreement to acquire Envoy Therapeutics for $140 million, including an upfront payment and progress-based preclinical milestones. Takeda will continue operating Envoy in Jupiter, FL through March 2013, and will transfer the majority of the scientific staff and management team to Takeda California in San Diego.
The acquisition provides Takeda with Envoy’s bacTRAP technology, which combines genetic engineering with molecular biology techniques for labeling and extracting the protein-making components of specific types of cells, and gains access to Envoy’s preclinical CNS assets including programs for Parkinson’s Disease and Cognitive Impairment Associated with Schizophrenia (CIAS).
“Since our initial investment in 2009, it has been clear to us that Envoy’s scientific excellence in combination with their vision for the utilization of bacTRAP technology have great potential to create and explore truly innovative targets across multiple therapeutic areas,” said Dr. Paul Chapman, general manager of Pharmaceutical Research Division at Takeda. “Together with Envoy, we will continue our efforts to contribute to the health of patients worldwide by delivering innovative drugs.”
“Takeda’s expertise in so many disease areas, coupled with its strong commitment to innovation in drug discovery, will enable the widespread application of Envoy’s bacTRAP technology,” said Mr. Brad Margus, chief executive officer and director of Envoy. “Our scientists are thrilled by the opportunity to deploy bacTRAP’s unique capabilities across numerous new therapeutic areas.”