OSAKA, Japan—Snatching up a promising pipeline of CNS, oncology, and metabolism-targeting therapeutics, Takeda Pharmaceuticals announced its acquisition of Cambridge, England-based Paradigm Therapeutics. Financial details were not disclosed, but the deal builds on an existing relationship between the two companies in the area of CNS drug development.
"Takeda have been an excellent partner in our CNS collaboration and this deal represents a logical and positive extension to that," said Alastair Riddell, CEO of Paradigm. "The company looks forward to continuing with its drug discovery and development activities within the global reach and long term planning horizons of Takeda."
Under the terms of the merger, Paradigm will renamed Takeda Cambridge, becoming a subsidiary of Takeda Europe Holdings, B.V., and Paradiagm's Singapore subsidiary will become Takeda Singapore Pte. The move is part of a larger consolidation trend within the pharmaceutical industry and comes on the same day that Schering-Plough announced their plans to acquire Organon from Akzo Nobel.
