AstraZeneca will partner with Takeda Pharmaceuticals to co-develop an experimental drug to treat Parkinson's disease.
AstraZeneca will spearhead Phase I testing of the drug, MEDI1341, later this year and Takeda will take over future clinical development.
Takeda will pay AstraZeneca up to $400 million through the initial deal. The drugmakers will then equally share future development and commercialization costs, along with any future revenues.
"By combining our scientific expertise and sharing the risks and cost of development, we hope to accelerate the advancement of MEDI1341 as a promising new approach to support the treatment of people with Parkinson's disease around the world," said Mene Pangalos, PhD, AstraZeneca's executive vice president.
More articles on supply chain:
FDA cracks down on stem cell clinics offering unapproved treatments
Ben Taub Hospital may run out of food for patients
US university, Trump adviser back offshore testing of herpes vaccine that evaded US safety protocols