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Prosetta, Takeda take aim at CNS diseases
June 2016
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SAN FRANCISCO—Prosetta Biosciences Inc. has inked a Feasibility and First Right of Negotiation Agreement with Takeda Pharmaceutical Co. Ltd. for a feasibility study regarding the future development of novel compounds for central nervous system diseases and disorders. Per the terms of the deal, Prosetta and Takeda would jointly conduct an initial agreed-upon research plan related to the target of interest. Once that is concluded, and subject to Takeda exercising its negotiation rights under the agreement, the companies would establish a separate comprehensive collaboration and license option agreement, under which they would engage in further research and development tied to the target of interest. Prosetta stands to receive an undisclosed upfront payment from Takeda, as well as pre- commercialization and commercialization milestones and royalty payments on marketed products, under the second agreement.

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