Japanese pharma company Takeda signed a deal with San Diego-based Neurocrine Biosciences to partner in the development of new psychiatric treatments, according to a June 16 news release.
The deal gave Neurocrine exclusive license for seven pipeline programs, which include three clinical stage compounds for treatment-resistant depression, schizophrenia and anhedonia.
Neurocrine will pay $120 million up front to Takeda, which will be eligible for development milestones up to $495 million and commercial milestones up to $1.4 billion. Takeda will also be eligible for double-digit royalties on net sales.
"We are excited to collaborate with Takeda to bring life-changing therapies to people living with serious, challenging and under-addressed psychiatric disorders who are in need of better treatment options," Kevin Gorman, PhD, Neurocrine's CEO, said in a news release.